Volkswagen CEO Considers Cutting Up to 30,000 Jobs -Handelsblatt
October 13 2021 - 06:05AM
Dow Jones News
--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)
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