Automotive News Europe — 2023-11-13
Automotive Industry
VW could cut administrative personnel jobs as part of savings and cost-cutting measures amounting to €10 bn ($10.8 bn) by 2026, the Handelsblatt daily reported, citing an internal company podcast.
Administrative personnel costs are to be reduced by a fifth by 2026, with staff reductions likely part of the measures, Handelsblatt reported on Monday, citing the internal podcast with human resources head Gunnar Kilian and brand boss Thomas Schaefer.
VW employs almost 40,000 administrative staff, including both brand and Group personnel, said Handelsblatt, which added that talks are underway with the works council.
VW was not immediately available for comment.
VW's passenger car brand said in June it will implement savings and cost-cutting measures amounting to €10 bn by 2026 to hit a return on sales target of 6.5%.
Key measures, originally set to be in place by October, are expected to be defined by year end.