The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.10 - Manufacture of motor vehicles
463 jobs Number of planned job losses
Announcement Date
16 June 2020
Employment effect (start)
1 September 2020
Foreseen end date
Description
Volvo Group announced 463 job cuts in its subsidiary Renault Trucks SAS. 439 job cuts concern the Lyon plant and R&D department (Vénissieux/Saint-Priest) which has 4,000 employees. 24 job cuts are planned at the Bourg-en-Bresse plant. In Lyon, white-collar workers are mainly concerned, particularly in the Research and Development sector, even though a project for a new R&D centre was announced for 2021.
'The economic crisis caused by COVID-19 will have a strong and lasting impact on Renault Trucks' results', explains the management. The company is expecting 'a significant drop in the truck market in 2020', and an economic situation 'which will not return to pre-crisis levels in the short and medium term'.
The FO trade union estimates that 'the Volvo group is using the health and economic crisis to clean up the company while the group is experiencing a profitability of more than 10% and the dividends to shareholders have been multiplied by 3'.
The last recorded restructuring was announced in 2015 (591 positions cut ). In March 2017, Renault Trucks announced 273 job creationsincluding 100 at its Blainville-sur-Orne site. In January 2018, the company announced 100 job creations in 2018 and 2019 in its plant of Blainville-sur-Orne (Calvados).
Eurofound (2020), Renault Trucks, Internal restructuring in France, factsheet number 100959, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100959.
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