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Renault SA To Cut 7,500 Posts-Reuters

Tuesday, 15 Jan 2013 12:28pm EST 

Reuters reported that Renault SA is aiming to cut 7,500 jobs on its home patch by 2016 to help boost competitiveness as the slump in its domestic and European markets shows no sign of easing. The job cuts, which are equivalent to 14 % of Renault's French staff, will be a further blow to President Francois Hollande, who has made creating employment his priority for this year as the jobless rate reaches 13-year highs.