Renault to Cut 3,000 Jobs Through Voluntary Exit Scheme: Report

Renault is preparing to reduce around 3,000 jobs through a voluntary redundancy scheme, French newsletter L'Informe reported. This will affect support services such as human resources, finance, and marketing, with the company aiming for a 15% cut in these roles. The programme is part of Renault’s “Arrow” cost-saving plan.

Decision Timeline

According to the report, a final decision on the voluntary exits is expected by the end of this year. Renault has confirmed that cost reductions are being considered, but said no final numbers have been approved so far.

A spokesperson for Renault said the company is exploring ways to simplify operations, speed up execution, and reduce fixed costs due to challenges in the global automotive market and a competitive business environment.

At the end of 2024, Renault employed 98,636 people worldwide. If the plan is implemented, the job cuts would account for about 3% of its global workforce.

Renault Financial Results

In July, Renault posted a first-half net loss of €11.2 billion ($13 billion). This included a €9.3 billion write-down linked to its partner Nissan. Without the write-down, Renault reported net income of €461 million, which was less than one-third of the level recorded a year earlier. The decline was attributed to weaker van sales, higher costs associated with electric vehicles, and competitive pressures.

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Conclusion

The voluntary exit plan is expected to be finalised by year-end. If approved, it will reduce Renault’s global workforce as part of broader efforts to manage costs and adapt to market conditions.

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