It was known that Volkswagen had to and wanted to save money. A media report now shows the extent to which this plan could take place.
According to a media report, the Volkswagen Group wants to cut up to 30,000 of its 130,000 employees in Germany. This was reported by “Manager Magazin” on Thursday. According to calculations by “hardliners” in the company, the number of employees is to fall by this amount “in the medium term” in order to save costs.
The Wolfsburg-based carmaker’s investments are also to be cut by around 20 billion euros over the next five years.
Volkswagen is in deep crisis
The measure, if taken, would be an unprecedented blow for Volkswagen. It was recently announced that the group’s core brand VW in particular is in need of restructuring. There have also been rumors of impending factory closures, as well as job cuts. The main reason for this is weak car sales and a profit margin that is too low. Critics complain that Volkswagen is lagging behind its Asian competitors in the field of electromobility. Other Volkswagen brands include Audi, Skoda, Seat and Porsche.
Volkswagen has not yet commented on the media report when asked by the news agency DPA. It is completely unclear in what time frame the possible job cuts will take place and whether CEO Oliver Blume is behind the alleged plans. He at least considered them realistic, writes “Manager Magazin”. Volkswagen recently announced to the unions that it had cancelled the employment guarantee that had been in place for decades. Employee representatives have already announced their opposition.
Note from the editors: This article has been updated with additional information since its initial publication.
Source: news agency DPA
Source: Stern
