April 29, 2020 / 11:26 AM / a month ago

Renault has sub-contractors in its cost-cutting sights -sources

PARIS, April 29 (Reuters) - French carmaker Renault is considering a sharp reduction in sub-contractors it works with to develop new models as part of looming cost cuts, sources close to the company said.

The measures would allow it to make between 100 million and 200 million euros ($108.5 million to $216.9 million) of savings, two sources said.

The carmaker was already struggling before the coronavirus crisis hit sales and production ground to a halt, having posted its first loss in 10 years in 2019 on faltering demand. It is due to outline 2 billion euros in cost cuts from mid-May.

Renault declined to comment. ($1 = 0.9220 euros) (Reporting by Gilles Guillaume Writing by Sarah White Editing by David Goodman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below