French carmaker Renault to cut structural costs by 2bln euros

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French carmaker Renault on Friday announced it would seek a cut in operating costs of 2 billion euros over the next three years, hinting at a major cull in jobs, after it reported net losses of 141 million euros in 2019, the first in a decade, due to lower sales and a falling contribution from its Japanese partner Nissan.

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French carmaker Renault went into the red last year, the first time in a decade, with net losses of 141 million euros due to lower sales and a falling contribution from its Japanese partner Nissan, reports FMT News.