French car maker Renault has announced it is implementing major cost-cutting measures over the next three years that will see almost 15,000 jobs disappear worldwide, including in Romania.

The move came after French finance minister Bruno Le Maire said last week that Renault could be in dire straits without securing financial assistance.

Renault’s new strategy sets out to reduce fixed costs by 2 billion euros over this period, beginning making 14,600 employees redundant from its global workforce, 4,600 in France, and the remainder outside its domestic market.

 Renault chairman Jean-Dominique Senard said the company will focus heavily on reducing engineering costs while streamlining vehicle development and component diversity by relying more on its alliance partners.

“The difficulties encountered by the group, the major crisis facing the automotive industry and the urgency of the ecological transition are …. driving the company to accelerate its transformation,” a statement said. possible

“The draft plan will strengthen the company’s resilience by focusing on cash flow generation… It is based on a more efficient approach to operational activities and rigorous management of resources,” the statement says.

Renault also plans to reduce its global production capacity from four million units in 2019, down to 3.3 million by 2024.

This will see a rationalization of gearbox production, a reduction of production capacity in Russia and the suspension of plans to expand production in Morocco and Romania.

The company employs 4,000 engineers in Romania, in Bucharest and Titu, where Renault has one of its largest testing centers.

Prime Minister Ludovic Orban said the government had discussed the situation with company management, adding it was too soon to know whether they would “reduce their activity in Romania or make layoffs,” he told reporters on Friday, May 29 during a visit to Targu Mures.

This project to adjust the workforce will include retraining, internal mobility, and voluntary leaving.