French automaker Renault has announced a significant restructuring of its engineering operations, with plans to cut between 15% and 20% of its engineering workforce. This reduction could affect up to 2,400 jobs, according to company statements and union sources.
The move is part of a broader cost-saving plan, dubbed "Renaulution," initiated by CEO Luca de Meo. The strategy aims to streamline operations and reduce fixed costs by β¬2 billion by 2025 to improve the company's competitiveness in the rapidly evolving electric vehicle market.
The job cuts are expected to be achieved primarily through voluntary departures and internal mobility, rather than forced layoffs. The company has stated it will work with social partners to manage the transition, focusing on retraining and redeployment where possible.
This restructuring reflects the intense pressure on traditional automakers to adapt to the electric transition while managing costs. Renault's announcement follows similar workforce adjustments by other major car manufacturers globally as the industry shifts its focus and resources.
