Renault To Cut Nearly 15,000 Jobs

The company plans to cut 15,000 jobs and reduce vehicle production capacity due to financial struggles amid the COVID-19 pandemic. A press release outlines a strategy to save $2.2 billion over three years and enhance competitiveness. The company also aims to lower its global production from 4 million to 3.3 million vehicles by 2024. A 25% sales drop has led to negotiations for an emergency loan with the French government. Meanwhile, Nissan, a partner company, will close plants in Spain and Indonesia to address its financial challenges.

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