Bruno Le Maire warns Renault against job cuts, factory closures

French Finance Minister Bruno Le Maire warned French automaker Renault on Tuesday against factory closures in France and cutting jobs there after the automaker announced “no taboos” cost slashes last week.

Renault reported on Friday its first loss in a decade which resulted in a commitment to slash costs by 2 billion euros ($2.2 billion) over the next three years, in a strategy that could also hit factories in France, its interim chief stated.

“The state will play its role as shareholder in Renault to make sure that the decisions which will be made will not go against jobs and factories in France,” Le Maire informed journalists in Brussels, adding the government would discuss with the automaker and remain “very vigilant” on its cost cuts plans.

He said he had talked about Renault’s industrial plan on Sunday in a telephone call with Chairman Jean-Dominique Senard.

That dialogue will remain on going, Le Maire said, acknowledging Renault’s needs to get ready to face new challenges. But he stated changes should take into account the long-term interests of the automaker in the country.