Renault revises down job cut forecast for 2022-2024

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Renault SA (RENA) announced yesterday that it had revised down its forecast for engineering and support jobs cuts in France for the period 2022-2024 to 1,700 from 2,000, as previously expected.

Those reductions came on top of the 4,600 positions the French auto maker announced last year would be cut as part of a cost-cutting effort.

“Given the increase of the number of people departing the company on a voluntary basis … there has been a readjustment of the 2022-2024 plan’s targets”, a spokesperson for the company was quoted as saying by Reuters.

The person also said that Renault’s 2022-2024 plan still envisaged the hiring of 2,500 new employees in different roles.

As of 10:00 GMT on Tuesday the shares of Renault SA were advancing 2.07% (EUR 0.61) on the day, while extending a gain from the previous trading session, to trade at EUR 30.05 on the Paris Stock Exchange.

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