Renault Decided to Downsize After Record Losses

The best-selling automobile brand in Turkey Renaultannounced its financial results for the first half of 2020. According to the statement, the French automobile giant's total 7.3 billion euros It turned out that he suffered damage. 4.8 billion euros of this record loss has been talked about a lot due to the recent depreciation. NissanIt was stated that it was caused by . 

Renault, one of the companies that suffered the most damage in the automotive industry, which came to a halt due to the coronavirus pandemic, experienced a serious decline in its stocks after announcing this loss. Approximately in stocks 9 percent decrease How Renault will handle this situation is awaited with great curiosity. 

CEO of the French automotive giant Luca de Meo, “We are facing an unprecedented situation, but this is not the end. Together with the management team and other employees of the group, we focused on correcting this bad situation with strict discipline. I firmly believe that Renault will recover” he said. 

Thousands of employees will be laid off

Renault will take some steps to react to this huge damage. In total 2 billion euros The company will implement an austerity policy that finds 14 thousand 600 employees will lay off and will reduce production capacity announced. In this process, the company will start to focus on quality, not the height of production capacity. This means that the new models of Renaults, which are preferred in our country because they are cheap, will be more compact and their prices will be accordingly higher. 

So how do you think Renault will manage to get out of this bad period? You can share your thoughts with us in the comments section.