VW Weighs Staff Reductions As Electric Shift Stalls

Stay in Touch with International Business Times – Sign Up for Our Newsletter Today!

Go here My account Log Out for our international newsletter update filled with world, US economy & market, company, technology, digital life, culture, sports, crypto opinions.

Be sure to check out the additional resources at:

By AFP News 11/27/23 AT 11:11 AM EST

VW Weighs Staff Reductions As Electric Shift Stalls, Group CEO Oliver Blume Announces 10-Billion-Euro Savings Programme

German car giant Volkswagen has said that it is considering staff reductions as it transitions to electric vehicles, possibly in the form of early retirement. The lacklustre sales of electric vehicles, weak global economy, and low demand has forced the 10-brand carmaker group — Audi, Seat, Skoda — to incure $10.9 billion savings and cut 269 temporary jobs at the flagship electric car plant in Zwickau. Group CEO Oliver Blume has also outwardly announced a 10-billion-euro savings programme to increase their market’s profitability.

For the latest car markets news & technology opinions – join our newsletter and stay in touch – sign up today!

Robert Wilson author
Articles: 12200