February 27, 2020 / 11:32 AM / a month ago

Renault to sell some car dealerships in France - unions

PARIS, Feb 27 (Reuters) - Renault informed French unions on Thursday that it planned to sell 10 car dealerships in France, as well as the building housing one of its division’s headquarters, the Force Ouvriere (FO) union said in a statement.

It did not give any financial details for the operations, which it said would take place between 2020 and 2021, but said the 10 dealerships employed a combined 1,600 people and that it was concerned about job losses.

Renault had no immediate comment.

The carmaker is embarking on a cost cutting drive after posting its first loss in a decade in 2019.

Its rival PSA, which makes Peugeot cars, had gone down a similar route as part of a turnaround plan in recent years, selling and leasing back buildings and shedding property assets. (Reporting by Gilles Guillaume; Writing by Sarah White; Editing by Sudip Kar-Gupta)

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