French automaker Renault is preparing to cut around 3,000 jobs globally through a voluntary redundancy programme targeting support functions, according to French newsletter L’Informe.
The job cuts are part of a cost-saving initiative called “Arrow,” under which Renault aims to reduce staff in departments such as human resources, finance, and marketing by 15%. The reduction will primarily affect employees at the company’s headquarters in Boulogne-Billancourt, near Paris, as well as other global offices.
A source quoted by L’Informe said that a final decision is expected by the end of the year. Renault confirmed it is evaluating cost-cutting options but stated that no specific figures have been finalised yet.
“Given the uncertainties in the automotive market and the extremely competitive environment, we confirm that we are exploring ways to simplify operations, accelerate execution, and optimise fixed costs,” a Renault spokesperson said.
At the end of 2024, Renault employed 98,636 people worldwide.
The company reported a first-half net loss of €11.2 billion ($13 billion) in July, including a €9.3 billion write-down linked to its Japanese partner Nissan. Excluding the write-down, net income fell sharply to €461 million—less than one-third of the previous year’s level—due to a weaker van market, rising electric vehicle costs, and mounting competitive pressures.
Renault’s new CEO, Francois Provost—who took over in July after Luca de Meo’s departure to Gucci-owner Kering—faces the challenge of restoring profit margins, regaining an investment-grade credit rating, and steering the company through a tough market environment marked by U.S. tariffs and growing competition from Chinese manufacturers.