World Economy

VW to Cut 30,000 Jobs

VW to Cut 30,000 JobsVW to Cut 30,000 Jobs

Europe’s largest carmaker, Volkswagen, is intending to cut tens of thousands of jobs amid a drive to shape its post-Dieselgate future, the company has confirmed, DW reported. A board meeting is looking into future investments. Europe’s largest carmaker, Volkswagen, is planning to slash 30,000 jobs at its core VW brand globally to prepare the Wolfsburg-based company for a better future after its massive emissions-cheating scandal. Executives announced on Friday there would be no compulsory redundancies until the end of 2025, but jobs that would break away as the carmaker focused more on e-mobility and less on combustion-engine technology would not be replaced. German sites would be especially affected by the cuts, with roughly 23,000 positions to go in Europe’s powerhouse. The company added, though, that 9,000 new jobs would be created in future-oriented business divisions. All in all, Volkswagen is hoping to save up to €3.7 billion ($3.9 billion) annually as a result of large-scale restructuring.


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