PARIS -- Renault is considering cutting back on the real estate it occupies in the Paris region by 50 percent by 2025, a move that could save at least 60 million euros ($51.22 million).
The property shift, affecting both offices it rents and owns, would affect white collar workers at the company in the Ile-de-France, and not engineering sites, a Renault spokesperson said.
The plans were presented to unions this week, and come as money-losing Renault tries to slash costs and increase revenues under CEO Luca de Meo.
Renault also is trimming jobs in France, and has also been restructuring its factories.
The group's Ile-de-France offices are spread around about a dozen sites, and Renault aims to eventually centre all its office workers around its historical headquarters in Boulogne-Billancourt and another site further west.
Some 20 percent of its office space in the region was already unoccupied before the COVID-19 pandemic, when the company also brought in measures allowing people to partly work from home, the spokesperson said.