VW to Cut Jobs Amid Electro-Mobility Transition
07 December 2023 - 3:31AM
Dow Jones News
By Helena Smolak
Volkswagen said it will have to cut jobs in the coming years to
reduce costs and improve profitability as part of its transition
into electro-mobility.
The German auto maker said Wednesday that the aim is to reduce
labor costs by 20%, but didn't specify the number of job cuts
expected.
"Over the next few years, we will have to reduce our workforce
in a socially responsible way, taking advantage as far as possible
of partial and early retirement schemes," said Gunnar Kilian, the
group's head of human resources, in an internal publication
disclosed to The Wall Street Journal, following a staff meeting at
Volkswagen's headquarters in Wolfsburg.
Discussions between management and employee representatives are
in the final stages, the company said.
This autumn, Volkswagen reduced production at several sites due
to falling demand.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
December 06, 2023 11:16 ET (16:16 GMT)
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