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Volkswagen AG XE:VOW XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -0.81% 184.75 184.60 184.80 192.25 184.45 188.60 48,747 16:45:00

Volkswagen CEO Considers Cutting Up to 30,000 Jobs -Handelsblatt

13/10/2021 11:05am

Dow Jones News


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--Volkswagen could consider cutting up to 30,000 jobs to boost competitiveness and cut costs amid the industry shift to electrification, German business daily Handelsblatt reports, citing unnamed sources.

--The job cuts were suggested by the car maker's Chief Executive Officer Herbert Diess as part of a presentation at a supervisory board meeting in September, while other participants rejected the considerations, reports Handelsblatt.

--"There is no question that we have to address the competitiveness of our plant in Wolfsburg in view of the new market entrants," said Volkswagen spokesman Michael Manske in an email to Dow Jones Newswires. "The debate is now underway and there are already many good ideas. There are no concrete scenarios," he said.

 

Full story (in German): https://bit.ly/3lAHBL4

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

October 13, 2021 05:50 ET (09:50 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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