Volkswagen will cut thousands of employees in Germany

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Volkswagen will cut thousands of employees in Germany

15.03.2021 News

Volkswagen AG, Germany’s largest carmaker, plans to cut up to 5,000 jobs in Germany.

Volkswagen has confirmed that the company has reached an agreement with the company’s board of employees, which provides for early or partial retirement of some employees. The company expects that about a thousand employees will choose early retirement. Volkswagen has not specified how many employees may partially retire, but their number will be measured in four figures.

“Volkswagen hopes that more than 300 million euros will be spent on pensions and wage subsidies,” the statement said.

Gunnar Killian, head of human resources, said Volkswagen needed to adhere to “strict cost management to finance the necessary investments in the future.”

 

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