PARIS (AP) — Renault says it needs to cut its headcount by about 17 percent — or 7,500 jobs — in France over the next three years to stem losses amid a downturn in Europe's car market.
In a statement Tuesday, the French car maker says it is proposing to cut the headcount by 2016, largely by not replacing departing workers. An early retirement package will also be available to older workers. No layoffs are envisioned in the proposal made to labor representatives at a meeting Tuesday.
Renault says the cuts will help it save €396 million from 2013 through 2016.
Last year Renault car and light-truck sales in France slumped nearly 20 percent to 551,334.