As part of its cost-cutting program, the German Volkswagen Group will lose thousands of jobs. According to the news, the world’s largest car manufacturer could lose up to five thousand jobs.

VW has also issued a formal notice stating that the company’s management has agreed with a works council representing the employees. As part of another step in the redundancy process until 2029, German workers will extend the possibility of early retirement and full-time to part-time work in old age with an employment guarantee, but the vacancies will no longer be filled

Part of the agreement part of the cost-cutting program required by the Supervisory Board last December. It is planned to reduce fixed costs by five percent and procurement costs by seven percent by 2023. The program also includes the non-recruitment of new staff until at least the end of 2021, except for IT, digitization and the development of batteries for electric cars.

120 000 in Germany and more than In addition to the eponymous Volkswagen, VW, which employs 670,000 people, includes Audi, Bentley, Bugatti, Lamborghini, Porsche, Seat and Skoda brands, as well as Ducati sports motorcycles and Scania and MAN trucks in addition to its own branded commercial vehicles. also manufactured by VW.

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