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Volkswagen to cut 5,000 jobs by 2023, says Handelsblatt

Staff Writer |
Volkswagen plans to cut an additional 5,000 administrative jobs at its namesake brand by 2023 as part of a cost-cutting program, German daily Handelsblatt reports, citing unnamed sources.

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The job cuts, which are to be implemented next year, are part of chief executive Herbert Diess's plan to improve the car maker's earnings by 5.9 billion euros, according to the report.

The cost-cutting plans haven't been discussed with Volkswagen's works council yet, Handelsblatt says.

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