Four Renault unions have ‘unanimously and strongly’ criticised the manufacturer’s cost reduction plans and have called for a gathering outside the Choisy-Le-Roi site today (3 June).
The union ire comes as French Finance Minister, Bruno Le Maire signed a EUR5bn (US$5.6bn) loan guarantee for Renault and as the automaker looks to cut 4,600 jobs in France and 10,000 worldwide in a bid to reduce fixed costs by EUR2bn across a three-year period.
Go deeper with GlobalData
“The four representative Renault unions: CFE-CGC, FO, CFDT, CGT met on 27 May and 2 June to debate and react to the economy plan put forward by Renault management,” said a statement issued by the CFDT and citing the four labour bodies.
“They condemn unanimously and strongly the cost reduction plan such as has been announced by management. The lack of concerted action meant staff [and] unions were informed by the press as to management’s intentions, then in the media of the numbers and scope of the project, which weakens the future of certain sites and puts in danger, thousands of jobs.
“The four unions are working on national, regional and local initiatives to contest this savings plan. Staff at Renault, on the inter-union initiative of the Choisy-Le-Roi site are invited to assemble in front of the factory to affirm their commitment to the business and to Renault’s industrial projects.”
Renault has unveiled the finalisation of a credit facility with a banking pool, for a maximum total amount of EUR5bn, benefiting from a guarantee by the French State.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“This credit facility, which may be drawn in whole or in part, will help finance the group’s liquidity requirements within the context of an unprecedented crisis,” said a Renault statement.
