FRIDAY, March 29, 2024
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Volkswagen expected to cut 30,000 jobs worldwide

Volkswagen expected to cut 30,000 jobs worldwide

Berlin - German carmaker Volkswagen is expected to cut 30,000 jobs worldwide as part of a plan to save billions of dollars for the company, sources told dpa Friday.

No manufacturing centres are likely to be closed as part of the plan, which has apparently already been agreed between management and the VW's works council. An announcement is expected later Friday.
Of the expected cuts, some 20,000 jobs are expected inside of Germany.
When contacted about the alleged plans, first published in German newspaper Handelsblatt on Friday, the company refused to comment.
The job cuts could save Volkswagen some 3.7 billion euros (3.92 billion dollars) by 2020, money that is dearly needed after the company admitted in September 2015 to the manipulation of diesel engine emissions tests, which led to mass recalls and compensation settlements in the billions of dollars.
Volkswagen currently employs more than 624,000 people worldwide, with 282,000 employees based in Germany.
A Volkswagen press conference is planned in the German city of Wolfsburg on Friday at 9:30am (0830 GMT).
 

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