Volkswagen is expected to cut between 5,000 and 7,000 jobs from its workforce by 2023 as the automaker further turns to automation.
The German automaker said Wednesday, March 13 that it will cut the positions by not hiring replacements for those who retire. VW reportedly said that this will most likely allow it to restructure “along the demographic curve.” The automaker estimates that about 11,000 of its employees will be of retirement age in the next few years.
Volkswagen adds that it will create about 2,000 jobs in its technical development department, and that it has given its workforce a job security guarantee through 2025.
German newspaper Handelsblatt reports the automaker says