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Volkswagen: Set to cut 30,000 jobs across the globe

by LLB Reporter
18th Nov 16 11:11 am

What happens next for Volkswagen?

Volkswagen (VW) has plans to cut 30,000 jobs across the globe, a huge sum of 23,000 of these losses will be in Germany.

VW aims to focus on newer projects such as changes in its core brand, development in electric and self-driving vehicles.

The car giant has said they will create 9,000 new jobs with investments into new products.

The cuts could bring in annual savings of €3.7bn (£3.2bn) by 2020. VW and its Unions have been coming up with new plans to help revive its fortunes since June.

Volkswagen chief executive, Matthias Mueller, told the BBC it was “the biggest modernisation programme in the history of the group’s core brand”.

“The VW brand needs a real shake-up and that is exactly what the future pact has turned out to be,” he added.

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