Renault's interim CEO Clotilde Delbos has confirmed the company’s intention to remain in Formula 1 despite facing massive job cuts. Renault announced on Friday its plans to reduce fixed costs by more than 2 billion euros over the next three years. The transformation plan will see the company simplify processes, reduce the diversity of components within vehicles and adjust industrial capacities. Some 15,000 jobs are expected to be lost in the process. Renault said it will cut its global production from four million vehicles in 2019 to 3.3m by 2024. Closures could include a foundry in Brittany and a factory in northern France. 'In a context of uncertainty and complexity, this project is...
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