French automobile manufacturer Renault is planning 15,000 job cuts around the globe as it tries to contain losses due to coronavirus pandemic, the BBC reports.
Renault saw its first annual loss in a decade last year and the challenges facing the firm have gone up due to the global coronavirus pandemic.
The company has pledged to cut its costs by £1.8 billion and is set to discuss the plan on Friday.
Almost a third of the reductions are expected in France.
Renault has employed more than 179,000 people in 39 countries. The company claims more than 4% of the global market.
Last month, Renault confirmed the number of vehicles sold dropped by 25% in January, February and March. The situation worsened in April.
The firm is understood to be in talks with the French government, which holds 15% stake in the company, over a €5bn emergency loan package.
The French government has promised €8bn to rescue France’s car industry.
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