The Volkswagen Group will cut 100,000 jobs until 2030, according to German media
The Volkswagen Group plans to cut nearly 100,000 jobs worldwide over the next five years and close up to four factories in Germany, at least that is the company's intention, according to the leak published by the German media Manager Magazin.
The company, asked by Europe Press, has said that these issues' will be discussed in the relevant committees' and has refused to go into detail on this process , although it has acknowledged that both the automotive sector and the group itself are undergoing 'a profound transformation'.
The current model
"The Board of Directors has stated on several occasions thatour current business model is no longer valid for all brands: car development in Germany, production in Europe and export to the rest of the world, "he explained.
"In order to continue to be successful in this situation, we need to evolve. The entire team needs to increase its competitivenesssignificantly, which requires a more accurate approach and stricter discipline on costs and investments, "the German firm added.
Last March, the company announced that it would cut some 50 000 jobsin Germany by 2030, with the aim of achieving net savings of more than EUR 6 billion per year by the end of the decade.
However, according to information released this Friday by the German magazine, the cut would reach 100,000 jobs worldwide, while the company plans to cut its investments by 15% to just over 130 billion euros.
Factories at risk of closure include facilities in the German cities of Hannover, Zwickau and Emden, as well as an Audi factory in Neckarsulm.
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