PARIS — Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the specter of Carlos Ghosn.

"We thought too big in terms of sales," said interim Chief Executive Clotilde Delbos, adding the The government has said it will not sign off on the state-backed loan until management and unions There will be about 4,600 job cuts in France, though Renault said it would prioritise employment transfers…

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"We thought too big in terms of sales," said interim Chief Executive Clotilde Delbos, adding the company was "coming back to its Renault was under pressure even before COVID-19 hit, posting its first loss in a decade in 2019, and has said nothing would be "taboo" as it reviews its business.

Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink …

Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink …

"We thought too big in terms of sales," said interim Chief Executive Clotilde Delbos, adding the company was "coming back to its bases" after investing It is seeking further clarity on how some big factories will be reorganised and further guarantees on jobs before it gives the green light, according…

We thought too big, Renault says as it axes 15,000 jobs in cost-cutting reboot. Faced with a slump in demand that has been exacerbated by the coronavirus pandemic, Renault detailed plans on Friday to find 2 billion euros ($2.22 billion) in savings over the next three years.