Renault CEO Signs Deal With Unions to Freeze Wages, Cut Jobs
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Renault SA, France’s second-biggest carmaker, finalized a deal with unions to cut its French workforce by 17 percent and freeze wages in exchange for not closing any plants in the country for three years.
“It gives Renault the means to revive competitiveness in France,” Chief Executive Officer Carlos Ghosn said today of the deal during a press conference near the company’s headquarters in the Paris suburb of Boulogne-Billancourt.