Publicado: Vie, Marcha 15, 2019
Financiera | Por Marilu Caballero

Volkswagen to cut 7,000 jobs in electric auto push

Volkswagen to cut 7,000 jobs in electric auto push

Over the next ten years, the VW brand plans to produce more than 10 million electric cars out of the total 22 million electric vehicles that the Volkswagen Group announced it would produce.

It estimates that the automation of routine tasks will result in the loss of between 5,000 and 7,000 jobs by 2023 and that around 11,000 workers will be eligible for retirement in the coming years. VW has been pushing to rein in bloated expenses to lift profitability that's trailing rivals. That was ambitious in itself, given that it made fewer than 50,000 battery-only vehicles past year. Tesla's approach "is right, ' rather than building platforms for both electric and combustion engine cars as some traditional automakers have done, VW Chief Executive Officer Herbert Diess told analysts Tuesday". Diess, who also heads up the VW brand, has been axing slow-selling models and auto variants to reduce complexity. This includes the start of the much talked-about electric offensive, as well as efficiency measures in production like reducing complexity and optimizing material costs.

VW signed a labour pact in 2016 to cut 30,000 jobs worldwide and generate €3bn in annual savings.

Volkswagen released full earnings today after pre-releasing earnings in February, when it said its 2018 group operating profit came in at €13.92 billion.

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Bernd Osterloh, VW's powerful labor leader, said he only supported cutbacks if jobs become superfluous.

For this year, the VW nameplate targets revenue growth of as much as 5% and an operating return on sales between 4-5%.

At the same time, VW plans to increase investment in "future issues" to 19 billion euros by 2023, 8 billion euros more than originally planned.

The new Golf's absence from the Frankfurt Motor Show does not mean VW won't have anything important to debut as that'll be the venue where the first production-ready I.D. model will celebrate its world premiere. The Germany-based manufacturer's new target is significantly higher than its original goal of 15 million electric vehicles.

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