PARIS (Reuters) – The four main unions representing employees at Renault RENA.PA oppose its cost-cutting plans, union sources said, adding to the French carmaker’s restructuring headaches.

A logo of Renault carmaker is pictured at a dealership in Le Loroux-Bottereau, France, September 28, 2020. REUTERS/Stephane Mahe

Loss-making Renault, which is 15% owned by the French government, has outlined 2 billion euros ($2.3 billion) in savings, including via job cuts and reorganising its factories, to restore profitability.

Employee representatives only have a consultative role in the plans, but rejecting them would complicate the task for new Chief Executive Luca de Meo.

De Meo, who arrived in July, had called on staff to back him in a recent internal memo seen by Reuters, saying: “I need you to carry out this turnaround.”

The CFE-CGC, CFDT, CGT and Force Ouvriere unions rejected Renault’s plans at a meeting with representatives of the firm on Tuesday, four union sources said.

The CFE-CGC union confirmed its opposition to the cuts in a statement, saying it was not convinced by the way Renault planned to go about its plans even if it understood the economic imperatives.

Renault declined to comment.

The company has like peers been hit hard by the coronavirus crisis, which forced it to halt production earlier this year while dealerships also closed temporarily.

This exacerbated existing problems with profitability, and De Meo wants Renault to produce fewer cars while improving margins. The firm plans to cut 15,000 jobs worldwide in the next three years, including 4,600 in France.

Unions have rejected wide-ranging layoff plans by other carmakers in France before, including at Peugeot-maker PSA PEUP.PA in 2012. This has not stopped them from going ahead.

But PSA managed to get unions on board for subsequent competitiveness agreements, which included wage freezes.

Reporting by Gilles Guillaume,

By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT (Reuters) – Consumer goods group Reckitt Benckiser Group

is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top job for one year.

Veet hair removal creams may also be seeing a boost, another source said, as people curb salon visits and do more grooming at home.

Reckitt is working with advisers and has already sent out information on the assets, two of the sources said.

Reckitt declined to comment.

The brands are likely to appeal to private equity players, the sources said, since they are cash-generative.

They do not fit into the two main businesses Reckitt has been focusing on – health and hygiene.

Unilever
, Beiersdorf

and Henkel

all sell personal care products and also therefore could be potential suitors, the sources said. Beiersdorf and Henkel, both based in Germany, are interested in parts of the package, two of the sources said.

Henkel declined to comment. Beiersdorf and Unilever were not immediately available.

UK-based Reckitt, which started out as a home cleaning company, for years worked to build out its health-related

By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT, Sept 28 (Reuters)Consumer goods group Reckitt Benckiser Group RB.L is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top job for one year.

Veet hair removal creams may also be seeing a boost, another source said, as people curb salon visits and do more grooming at home.

Reckitt is working with advisers and has already sent out information on the assets, two of the sources said.

Reckitt declined to comment.

The brands are likely to appeal to private equity players, the sources said, since they are cash-generative.

They do not fit into the two main businesses Reckitt has been focusing on – health and hygiene.

Unilever ULVR.L, UNA.AS, Beiersdorf BEIG.DE and Henkel HNKG_p.DE all sell personal care products and also therefore could be potential suitors, the sources said. Beiersdorf and Henkel, both based in Germany, are interested in parts of the package, two of the sources said.

Henkel declined to comment. Beiersdorf and Unilever were not immediately available.

UK-based Reckitt, which started out as a home cleaning