BERLIN, June 11 (Reuters) – Volkswagen is pressing ahead with sweeping job cuts and cost reductions in Germany as planned, shrinking its workforce by 19,000 by the end of the year, CEO Oliver Blume is set to tell investors at the upcoming AGM. More than 28,000 job cuts have been agreed as a binding target […]
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Volkswagen to reduce workforce by 19,000 by end of year, CEO says
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BERLIN, June 11 (Reuters) – Volkswagen is pressing ahead with sweeping job cuts and cost reductions in Germany as planned, shrinking its workforce by 19,000 by the end of the year, CEO Oliver Blume is set to tell investors at the upcoming AGM.
More than 28,000 job cuts have been agreed as a binding target for 2030, according to a transcript of Blume’s speech for the event on June 18.
“We reduced factory costs at Volkswagen’s German sites by more than 20% by 2025,” he said.
(Reporting by Christina Amann and Rachel More, Editing by Linda Pasquini)