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Renault agrees no factory closures

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Renault agrees no factory closures

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Renault has signed a deal with three unions to avoid factory closures.

The French car-maker signed the agreement with Force Ouvriere, CFE-CGC and CFDT.

It foresees an increase in working hours of 6.5 percent, a salary freeze this year and 7,500 job cuts by 2016, mainly through not replacing people who leave and early retirement.

In exchange the company has agreed not to close down any factories before 2016.