Pays émergents

Renault : sortir de la politique de l'autruche

La même scène vue autrement

Comme pour marquer sa différence et/ou pour souligner ce qui avait pu l’opposer à Thierry Bolloré, Clotilde Delbos a entamé son intérim à la direction générale du groupe Renault par un "profit warning" : non, le retour à un cash flow positif au second semestre ne permettra pas de compenser le cash flow négatif de 700 millions d’euros du premier; non, le chiffre d’affaires ne sera pas constant mais baissera de 3 à 4% de même que la marge opérationnelle sera plutôt de 5% que de 6% comme annoncé en juillet ; non, le plan 2022 ne vas pas être tenu et il est urgent de le redéfinir pour que chacun sache où il va.
 
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Renault: getting out of the ostrich policy

La même scène vue autrement
As if to mark his difference and/or to highlight what might have opposed her to Thierry Bolloré (Renault's former CEO, recently laid off), Clotilde Delbos (appointed to replace him) began her interim period at the head office of the Renault group with a "profit warning": no, the return to positive cash flow in the second half of the year will not offset the €700 million negative cash flow of the first half; no, revenue will not be constant but will fall by 3 to 4% and the operating margin will be 5% rather than 6% as announced in July; no, the 2022 plan will not be implemented and it is urgent to redefine it so that everyone knows where he is going.
 
She did not just talk to the analysts. She also spoke on Tuesday in a video for employees to tell them that the "Drive the Future" plan had to be taken up again because the market has changed over the past two years and that "unfortunately, the situation did not improve during the summer" and requires that the strategy be adjusted to "get Renault back on track".
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Despite their good results, French automakers are imposing wage moderation

French automakers now imposing wage moderation...

February in corporate France is both the month of the presentation of financial results and the month in which management and trade union organisations must close the so-called Négociations Annuelles Obligatoires ("mandatory annual negotiations").
 
Led in the midst of the "yellow vests" social movement in a context where PSA is doing very well and Renault is doing well, one might have expected that after having imposed years of hardship, manufacturers would have given up a little in France and granted the wage increases requested by the unions for 2019.
Indeed, while management is quite happy to grant bonuses that have the great merit of being able to be awarded or not from one year to the next depending on the company's results, and are also exempt from social security contributions, they are reluctant to accept general salary increases.
Conversely, trade unions would like to obtain wage increases that are irreversible and involve an increase in contributions and, therefore, in unemployment or pension rights later.
 
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