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Renault Has Cut 2,500 Jobs Under Union Pact
Renault SA says it has shed about 2,500 jobs over the past 12 months under an agreement with three French unions.
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Renault SA says it has shed about 2,500 jobs over the past 12 months under an agreement with three French unions.
The company aims to eliminate 7,500 positions in three years, primarily through early retirement programs. Renault reports that at least 80% of eligible workers are opting for such offers.
Renault expects the job reductions to save €500 million by 2016.
Under terms of last year's deal, Renault pledged to increase domestic output in exchange for work rule reform, pay control and the right not to replace 7,500 jobs cut by early retirement plans and other incentives.
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