In a bid to save €5.9 billion and increase their operating margin to 6 percent, VW will reduce 5,000-7,000 jobs by 2023. These job cuts will largely be a result of offering early retirement to longtime employees, rather than layoffs. The comments on this change in strategy were created at VW’s annual media conference in Wolfsburg.
As part of this statement, VW laid out a plan for its future. The company will boost their software engineering department considerably in the coming years, hiring 2,000 new employees in software and electronics.
The article VW to cut 7,000 jobs, radically increase software development by 2030 appeared initially on Electrek.
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