The implementation of the savings program is progressing at the German car manufacturer Volkswagen. According to a newspaper report, at least 20,000 employees have already agreed to leave the company prematurely.
This was announced by the board of the car manufacturer during a work meeting, the “Bild” reported on Tuesday. The employees exclude dismissal payments based on the duration of the service. Payments to employees can be a maximum of 400,000 euros.
How much VW has already spent on the severance payments, said HR, Gunnar Kilian said during a work meeting on Tuesday. According to the report, approximately two -thirds of the 20,000 employees go to partial pension.
HR reduction is part of a savings program that the company had agreed with the Council of the Loze Council at the end of last year. It provides for the socially acceptable reduction of 35,000 jobs or every fourth place in Germany by 2030.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
