OREANDA-NEWS. French automaker Renault plans to cut about 14.6 thousand jobs all over the world as part of a programme to reduce costs by 2 billion euros over 3 years.

According to the press release of the company, in France about 4.6 thousand jobs will be eliminated, in other countries more than 10 thousand.

Renault intends to reduce production capacity from 4 million cars in 2019 to 3.3 million in 2024. The automaker will also abandon the previously planned capacity expansion in Morocco and Romania. In France, the company will concentrate on such strategic areas as the development of electric vehicles, innovative industries and the circular economy.

Renault representatives will begin consultations with local authorities and trade unions on the optimization of production in the enterprises located in the territory of France. “We are fully aware of our responsibility, and the planned transformation can be carried out only with taking into account the interests of all parties and through social dialogue,” the head of the company Jean-Dominique Senard said.