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VW emissions scandal: 30,000 jobs are to be cut

VW emissions affair
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VW wants to save 3.7 billion euros

M ith the downsizing and further savings, Volkswagen wants to make itself fit for the future after the emissions scandal. The measures are part of the “future pact” negotiated between the works council and the management board, which has meanwhile been presented to the supervisory board. With the restructuring, which also includes austerity measures and overtime, 3.7 billion euros are to be saved by 2020 - three billion euros of which in Germany and 700,000 euros abroad. The Group's supervisory board will meet on Friday (November 18, 2016) to set the budget planning for the next few years to be invested. Jobs that are cut in the production of conventional vehicles could be partially compensated for in e-mobility. “We have to downsize the team, but there will be no layoffs,” VW brand boss Herbert Diess said in October.

With the pact for the future, VW wants to increase the operating return to four percent by 2020, which would roughly double compared to the current status.

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