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VW to Cut 4,000 Jobs, Add 2,000 in Shift to Digital Future
Volkswagen AG’s VW brand will eliminate about 4,000 salaried jobs in Germany and add at least 2,000 new positions as it digitizes administrative tasks.
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Volkswagen AG’s VW brand will eliminate about 4,000 salaried jobs in Germany and add at least 2,000 new positions as it digitizes administrative tasks.
The personnel shift is part of a €4 billion ($4.5 billion) project through 2023 to replace manual tasks with speedier and more efficient information technology tools. The initiative also will install a significantly more efficient purchasing system. VW says the 4,000 targeted jobs will be trimmed through attrition.
The carmaker has hiked its personnel training budget for the digital shift by 60% to €160 million ($180 million). VW also has agreed to guarantee employment through 2029.
The VW brand aims to reach an operating return on sales of 6% by 2022, three years sooner than it originally forecast.
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