Automotive Industry

VW to speed rate of contract buyouts; German automaker more than halfway to 20,000 job cuts.(News)

Automotive News Europe, September, 2006

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Byline: Jason Stein

Volkswagen has made significant progress in its effort to reduce its work force and will try to encourage even more people to take part in its employee reduction program.

Through six months, about 9,700 VW workers have agreed to an early retirement package and another 2,500 have accepted a separate voluntary severance package.

The total is more than half of the number of employees VW said it needed to cut in order to reach its profit targets.

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In February, VW said that up to 20,000 direct and indirect employees at the VW brand "could be ...

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Automotive Industry

VW to speed rate of contract buyouts; German automaker more than halfway to 20,000 job cuts.(News)

Automotive News Europe, September, 2006

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