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Audi to Trim Management Jobs by 10%
Audi AG aims to remove one level of management, or 10% of its executive positions, as part of a drive to cut costs €15 billion ($17 billion) by 2022.
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Audi AG aims to remove one level of management, or 10% of its executive positions, as part of a drive to cut costs €15 billion ($17 billion) by 2022.
“Our cost base is too high,” CEO Bram Schot explains to German business daily Handelsblatt. He also confirms that €15 billion target, which was first reported in January by Manager Magazin January.
Audi executives at the time said the Volkswagen Group division would stop filling future job vacancies, thereby reducing overall employment 3% in five years.
Schot tells Handelsblatt that Audi intends to shrink its engine lineup by one-third and find other ways to reduce existing costs. The initiative is intended to cover the cost of Audi’s previously announced plan to spend €14 billion over five years on electrification, connectivity and autonomous vehicles.
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