Renault plans to cut around 3,000 jobs through a voluntary redundancy program targeting support functions such as human resources, finance, and marketing as part of a new cost-saving initiative called “Arrow,” French newsletter L’Informe reported on Saturday.
The report said the move would represent about 15% of staff reductions in support services, mainly at the carmaker’s headquarters in Boulogne-Billancourt, near Paris, as well as other sites worldwide. A source familiar with the matter told L’Informe that a final decision is expected by the end of the year.
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Renault confirmed it is reviewing potential cost-cutting measures but said no figures or decisions have been finalized. “Given the uncertainties in the automotive market and the extremely competitive environment, we confirm that we are considering ways to simplify our operations, speed up execution, and optimize our fixed costs,” a company spokesperson said.
As of the end of 2024, Renault employed 98,636 people globally. The French automaker reported an 11.2 billion euro ($13 billion) net loss for the first half of 2024, including a 9.3 billion euro write-down related to its stake in Nissan. Excluding that, net income fell sharply to 461 million euros — less than a third of the previous year — weighed down by a weaker van market, higher electric vehicle costs, and mounting competition.
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New CEO Francois Provost, appointed in July after Luca de Meo’s departure to Gucci-owner Kering, faces the challenge of restoring profitability, regaining investment-grade credit status, and steering Renault through a tightening global auto market amid U.S. tariffs and pressure from Chinese carmakers.