Renault considers 3,000 job cuts under cost-saving plan, eyes efficiency in support functions: Report
The cost-cutting initiative, named “Arrow,” targets human resources, finance, marketing, and other support services, aiming to lower staff numbers by roughly 15% at its headquarters in Boulogne-Billancourt near Paris and at other global locations.A source cited by the newsletter said a final decision on the job cuts could be made by the end of the year.
Renault confirmed it is exploring cost-reduction measures but stressed that no final figures have been decided.“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 told Reuters.At the end of 2024, Renault employed 98,636 staff worldwide.
The carmaker reported a first-half net loss of €11.2 billion ($13 billion) in July, which included a €9.3 billion write-down on its partner Nissan.
Excluding the write-down, net income fell to €461 million, less than a third of the previous year, reflecting challenges in the van market, electric vehicle costs, and rising commercial pressures, analysts said.Renault CEO Francois Provost, appointed in July after Luca de Meo left for Gucci-owner Kering, has to restore margins, secure investment-grade credit, and counter US tariffs and Chinese market pressures, analysts say.
