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Carmaker Volkswagen Announces Job Cuts Up to 5,000: Statement

Volskwagen ID.4 (Image source: Volkswagen)

Volskwagen ID.4 (Image source: Volkswagen)

It did not give a precise figure for those employees, saying only that it would be in the lower end of a "four-digit number"

Carmaker Volkswagen will shed up to 5,000 jobs between now and the end of 2023 as part of cost-cutting to finance its transition to electric vehicles, the company said in a statement Sunday.

Up to 900 employees would opt for an early retirement scheme while others would leave the company as part of a gradual halting of their activities, it said.

It did not give a precise figure for those employees, saying only that it would be in the lower end of a “four-digit number”, an expression usually used to mean between 2,000 to 4,000.

first published:March 14, 2021, 23:19 IST