Renault targets 3,000 job cuts amid cost-saving measures – report [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
group.renault.com/en/finance-2
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Source: Yahoo! Finance
The proposed job cuts form part of the French automaker's broader cost-saving initiative, known as “Arrow”, which aims to reduce the workforce in non-production areas such as finance, marketing, and human resources by 15%. The job cuts are expected to impact personnel at Renault's main office in the Parisian suburb of Boulogne-Billancourt and various other global sites. According to a source quoted in the newsletter, a definitive resolution on the job reduction plan is anticipated by the end of 2025. While Renault has acknowledged its consideration of cost reductions, the company has not confirmed any specific figures, stating that “no decisions have been made” yet. As of the end of last year, Renault's global staff count stood at 98,636. The company faced an €11.2bn ($13 bn) net loss in the first half of the year, which included a €9.3bn write-down linked to its association with Nissan. When setting aside this write-down, Renault's net income still saw a substantial decl
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