According to Handesblatt, the automaker aims to lower costs by 5% by 2023, thus freeing up resources for electric vehicles
According to Handesblatt, the automaker aims to lower costs by 5% by 2023, thus freeing up resources for electric vehicles
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Volkswagen plans to cut up to 4-5,000 jobs at its factories in Germany, offering early or partial retirement to older employees in a move that could cost several hundred million euros. The German carmaker said it has come up with a plan to offer partial retirement to those born in 1964, and early retirement to those born between 1956 and 1960. The company said it expects up to 900 workers to opt for the early retirement, while several thousand should choose the partial.
According to the Handelsblatt newspaper, which in recent days had anticipated the company’s decision, up to 5,000 jobs could be cut. costs by 5% by 2023 thus freeing up resources for electric vehicles
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In what would appear to be a Tesla-modeled transition from car to tech company, Volkswagen also announced an increase in its employee training budget from 40 million to 200 million euros. The hiring freeze has also been extended until the end of 2021, previously foreseen only for the first quarter, while external hires can only be made in sectors such as technology development and digitalization.