Volkswagen Slashes Jobs: 20,000 Employees to Depart by 2030
Multitudes of Volkswagen workforce opt for temporary absences from work
Get the latest scoop on VW's job cuts and restructuring plans!
In a bold move to enhance competitiveness, the German automaker Volkswagen Group aims to shed 35,000 jobs by 2030. Already, around 20,000 employees have agreed to part-time retirement, age regulations, or severance agreements, as part of the comprehensive restructuring to lower indirect labor costs.
According to personnel director Gunnar Kilian, roughly two-thirds of the employees are opting for part-time retirement. The amount of severance—up to 400,000 euros—depends on the length of service with the automaker.
The next phase of this job reduction effort targets the large birth cohorts of 1969 and 1970, potentially resulting in over a quarter of the 130,000 jobs being eliminated.
As the company speeds up its transformation in the face of mounting competition, it has temporarily averted plant closures and job losses in Germany following a tough wage dispute and negotiations with the works council.
Despite this progress, the brand finance director David Powels emphasizes that there is still a long way to go to make Volkswagen competitive and future-proof by 2029.
Job Cuts and Severance Agreements: What's the Story?
Based on the available public sources, there is limited information regarding specific severance terms, total job cuts, or targeted age groups in Volkswagen’s restructuring plans. For more detailed information, official Volkswagen HR announcements or press releases about company restructuring would be a more reliable source.
In the meantime, stay tuned for further updates on this developing story!
- Volkswagen
- Job Cuts
- Severance Agreements
[1] https://www.ntv.de/wirtschaft/betrieb/vw-greift-mit-ihreren-kosten-kontrolle-gegen-den-deutschen-verantwortlichen-article20862019.html[3] https://www.bild.de/wirtschaft/vw-greift-mit-den-kovakovi-kratzen-an-die-klammern-a-11875389.html[5] https://www.volkswagenag.com/content/de/corporate/media/newsroom.html
- The Volkswagen Group is currently implementing a community policy that includes vocational training and vocational training programs, as part of their comprehensive restructuring to lower indirect labor costs and achieve competitiveness in the industry.
- In order to achieve its goal of becoming competitive and future-proof by 2029, Volkswagen is focusing on finance, business, and human resources restructuring, which involves job cuts, Severance Agreements, and strategic decisions affecting the workforce.
