New blow to Hollande as Renault 7,500 job cuts in France

French carmaker Renault is aiming to cut 7,500 jobs on its home patch by 2016 to help boost competitiveness as the slump in its domestic and European markets shows no sign of easing.

The job cuts, which are equivalent to 14 per cent of Renault’s French staff, will be a further blow to President Francois Hollande, who has made creating employment his priority for this year as the jobless rate reaches 13-year highs.

via Business feed http://www.scmp.com/business/companies/article/1129316/new-blow-hollande-renault-7500-job-cuts-france