Renault to cut 1,500 engineering jobs in France: union source

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June 16, 2020 7:39 AM EDT

FILE PHOTO: A logo of Renault carmaker is pictured at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane Mahe

PARIS (Reuters) - French carmaker Renault plans to cut 1,500 engineering jobs in France, a trade union source told Reuters on Tuesday.

The engineering job cuts are part of cost savings plans that Renault announced last month aiming to find 2 billion euros ($2.27 billion) in savings over the next three years.

Renault declined to comment.

The carmaker had planned to cut 15,000 jobs worldwide, including 4,600 in France.

Renault shares were up 5.66% at 1118 GMT.

(Reporting by Gilles Guillaume; writing by Matthieu Protard; editing by Jason Neely)


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