associate sponsors

VW HR chief says expects five-digit number of job cuts - FAZ | Reuters

BERLIN/FRANKFURT Volkswagen expects the shift to electric cars to cost a five-digit number of jobs in coming years, the Frankfurter Allgemeine Zeitung newspaper reported, citing the carmaker's human resources chief.Karlheinz Blessing, who sits on VW group's nine-member top management board, said the carmaker will need to cut jobs in production as assembly of electric engines requires fewer workers than making combustion engines, the newspaper said, citing an interview to be published in Saturday's edition.VW's works council, currently in talks with VW's brand management over a turnaround plan for the core VW brand, expects up to 25,000 staff to be cut over the next decade as older workers retire.Blessing reaffirmed there will be no forced dismissals at Europe's largest automaker.

Management and labour leaders are seeking to reach agreement on cost cuts and strategy in time for a Nov. 18 meeting of the supervisory board to approve future spending plans.Volkswagen's works council has warned that the talks with management could fail if the carmaker does not agree to invest in its own battery production.

Blessing said Volkswagen had to consider doing so although no decision had been taken yet."If 30 percent of the value creation will be in the battery system in future, it is right to consider whether we will step in and to what extent. We cannot leave that to others," he said.

"How deeply we will engage is a matter we will discuss as part of the future pact." (Reporting by Andreas Cremer and Georgina Prodhan; editing by Edward Taylor and Jason Neely)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Oct 29, 2016 22:00 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See