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VW Says 9,300 Employees Have Taken Buyouts
Volkswagen AG says it is close to its target of shedding 9,300 hourly and salaried employees in Germany through early retirement offers.
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Volkswagen AG says it is close to its target of shedding 9,300 hourly and salaried employees in Germany through early retirement offers.
The offer, which targets staffers who are at least 57 years old, will expire at the end of July. The plan is part of VW’s Transform 2025+ strategy to improve productivity by 7.5% this year and 25% by 2025.
Herbert Diess, CEO of the VW Brand, tells workers the company’s future hinges on delivering good financial results. “We must become courageous, slim, fast and aggressive,” he declares.” and willing to “break away from old habits,” he declares.
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