Renault will cut 800 engineering jobs in France by the end of 2027. The company aims to reduce its global engineering workforce by 15% to 20%. This strategy targets faster vehicle development to compete with Chinese rivals.
Renault plans to retrain 2,500 employees for future technology roles. The manufacturer will hire 200 new specialists in electric vehicles, software, and artificial intelligence. Bernstein analysts maintained a Buy rating for the company on June 26.