Renault targets 3,000 job cuts amid cost-saving measures – report

Core Viewpoint - Renault is planning to propose voluntary redundancies for approximately 3,000 employees in support functions as part of a broader cost-saving initiative called "Arrow" aimed at reducing workforce in non-production areas by 15% [1][2]. Group 1: Job Cuts and Workforce Impact - The job cuts will primarily affect personnel at Renault's main office in Boulogne-Billancourt and other global locations [2]. - A definitive resolution on the job reduction plan is expected by the end of 2025, although Renault has not confirmed specific figures yet [2]. Group 2: Financial Performance - As of the end of last year, Renault's global staff count was 98,636 [3]. - The company reported a net loss of €11.2 billion ($13 billion) in the first half of the year, which included a €9.3 billion write-down related to its association with Nissan [3]. - Excluding the write-down, Renault's net income fell to €461 million, significantly lower than the previous year due to challenges such as a sluggish van market and increased competition [3]. Group 3: Strategic Focus and Market Conditions - Renault is considering ways to simplify operations and optimize fixed costs in response to uncertainties in the automotive market and competitive pressures [4]. - The appointment of new CEO Francois Provost has led to a renewed focus on enhancing profit margins and improving the company's credit rating to "investment-grade" status [4]. - Renault Group reported a 1.3% increase in global sales for the first half of 2025, totaling 1,169,773 vehicles sold, and is entering a new phase focused on electric vehicle development [5].