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Did Ricciardo see the writing with Renault's $2.2b cuts
Daniel Ricciardo may have jumped off the Renault ship before it sunk with the carmaker set to unveil a plan to cut costs by $2.2 billion. With the world in the midst of an unprecedented financial crisis, even big manufacturers such as Renault is feeling the pinch. A pinch that the company, and the French government which owes a 15% stake in Renault, need to lessen. Reuters is reporting that ‘at the end of May, Renault plans to outline 2 billion euros ($2.2 billion) of spending cuts over the next three years after booking its first loss in a decade last year.' The company's factories are under threat with Renault considering closing three of its French sites: Choisy-le-roi, Dieppe and...
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4y ago from PlanetF1.com
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