Volkswagen considering cutting up to 30,000 jobs -Handelsblatt

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BERLIN, Oct 13 (Businesshala) – Volkswagen (VOWG_p.DE) is considering cutting 30,000 jobs to cut costs and improve competition with players like Tesla (TSLA.O), German daily Handelsblatt reported on Wednesday. reported to.

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It cited a presentation made by Volkswagen CEO Herbert Diess to the supervisory board.

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“There is no question that we have to address the competitiveness of our plant in Wolfsburg in view of new market entrants,” VW spokesman Michael Manske asked for comment.

“The debate is going on now and there are many good ideas already. There are no concrete scenarios.”

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A spokesman for Volkswagen’s Workers’ Council said that although they would not comment on speculation whether Diess had commented, “the loss of 30,000 jobs is absurd and unfounded”.

Volkswagen is also considering listing its car charging and energy business in addition to existing IPO plans for its battery division, Chief Technology Officer Thomas Schmall told Manager Magazine in an interview published Wednesday.

Schmall said nothing has been decided yet and it could probably take two years for new companies to be established and really ready for the stock market.

“We also have to think in terms of holistic systems,” Schmall said, referring to Tesla’s one-stop-shop complex’s own charging network, solar systems for green electricity, and car insurance policies.

Tesla produces its Model 3 car in 10 hours, while Volkswagen takes 30 hours to generate an ID.3.

Reporting by Zuzana Szymanska; Additional reporting by Victoria Waldersee; Editing by Jason Neely

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