“Volkswagen to cut 5,000 employees in Germany: it will offer early or partial retirements”

The Volkswagen plans to cut up to 5.000 jobs in its factories in Germany, offering early or partial retirement to older employees in a move that could cost several hundred million euros. According to Bloomberg, who quotes the newspaper Handelsblatt, the German carmaker has come up with a plan to offer partial retirement to those born in 1964 and early retirement for those born between 1956 and 1960.

The company said it expects up to 900 workers to opt for early retirement, while several thousand should opt for the partial. Second Handelsblatt, that in recent days had anticipated the company’s decision, up to 5 thousand jobs could be cut.

In what would appear to be a transition from automaker to ‘tech company’ modeled on Tesla, Volkswagen also announced the budget increase for the training of employees from 40 to 200 million euros. The freezing of hiring until the end of 2021, previously only scheduled for the first quarter, while external hires can only be made in sectors such as technology development and digitalization.

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