New Delhi, Oct. 4 -- French carmaker Renault is reportedly planning to lay off 3,000 employees worldwide, primarily in support roles through a voluntary redundancy program - an offer where staff can choose to leave the company in exchange for a financial package, instead of being directly laid off.

The final decision on the lay off is expected to be made by the end of the year, reported French newsletter L'Informe.

The job cuts are part of an internal cost savings initiative dubbed "Arrow," under which Renault aims to reduce its workforce in support services such as human resources, finance and marketing by 15 per cent.

This target is expected to result in about 3,000 job cuts across the carmaker's headquarters in the Paris suburb of B...