The company has set a binding target of over 28,000 job cuts by 2030 and plans to decrease factory costs at its German sites by more than 20 percent by 2025.Volkswagen is pressing ahead with sweeping job cuts and cost reductions in Germany as planned, shrinking its workforce by 19,000 by the end of the year, CEO Oliver Blume is set to tell investors at the upcoming AGM.
More than 28,000 job cuts have been agreed as a binding target for 2030, according to a transcript of Blume’s speech for the event on June 18.
“We reduced factory costs at Volkswagen’s German sites by more than 20 per cent by 2025,” he said.
