Renault reaches groundbreaking deal with unionsMarch 13, 2013 - 17:39 AMT PanARMENIAN.Net - French carmaker Renault SA says it has reached a potentially groundbreaking deal with leading unions that allows it to reduce its workforce and cut costs in exchange for keeping jobs and production in France, The Associated Press reported. Renault and other European carmakers have been struggling to stay competitive globally as Europe's car market flails. Rigid labor agreements in France drive up wages and benefits and make it difficult to move jobs elsewhere. The Renault deal is aimed at providing management more flexibility in staffing as the market evolves. Renault said in a statement that Chairman Carlos Ghosn signed the deal with representatives of the CFDT, CFE-CGC and FO unions Wednesday, March 13. The French government and big companies in similar straits have been closely watching the Renault negotiations, which took nearly nine months. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |