Because of an industry-wide slowdown in sales, the French carmaker Renault announces 6,000 job cuts.

According to Renault, about 4,900 jobs would be cut in France while the number would go 1,100 in other European countries.

However, a severe reaction has been shown by the French unions to the news and CGT union has called for one-day strike on Thursday.

The CGT union is asking President Nicolas Sarkozy to arbitrate the issue. Almost 15% of Renault’s shares are owned by the French government. …read the rest of this entry»