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France 24 reports:

French carmaker Renault said on Friday it was launching talks with unions to restructure some plants and potentially close others as it confirmed plans to cut around 15,000 jobs worldwide to ride out a slump in sales.

Faced with a downturn in demand compounded by the coronavirus crisis, Renault is aiming to find 2 billion euros ($2.22 billion) in savings over the next three years as it shrinks production and hones in on more profitable models.

It said the restructuring measures — including the job cuts, transfers and retirement plans that would affect just under 10% of its global workforce — would cost 1.2 billion euros.

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