Volkswagen to cut 7,000 jobs at VW brand

VW brand
Volkswagen to cut 7,000 jobs at VW brand

Volkswagen to cut 7,000 jobs at VW brand

German Automaker Volkswagen on Wednesday announced that it would cut down at least 7,000 jobs by 2023. The company will achieve these cuts through various retirement offers. The company took this decision so to speed up its transition to electric vehicles.

Also Read: IITians urged to develop passenger drones to help decongest cities

The company recently made an announcement to speed up the plan for 22 million electric vehicles in 10 years as a part of the decarburization plan.

Volkswagen released its statement in which it said, “Volkswagen will be boosting the pace of its transformation… taking important steps this year to strengthen competitiveness on a sustained basis.”

Also Read: Dust storm uproots tree; damages two vehicles in Patiala

According to the company’s statistics, the automation of routine tasks will result in the loss of more than 6000 jobs by 2023. Also, more than 11,000 employees would be eligible for retirement.