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Volkswagen considering cutting up to 30,000 jobs -Handelsblatt

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BERLIN, Oct 13 (Reuters) – Volkswagen (VOWG_p.DE) is considering cutting up to 30,000 jobs to minimize prices and enhance competitiveness with gamers comparable to Tesla (TSLA.O), German day by day Handelsblatt reported on Wednesday.

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

“There is no question that we have to address the competitiveness of our plant in Wolfsburg in view of new market entrants,” VW spokesperson Michael Manske stated when requested for remark.

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

A spokesperson for Volkswagen’s employees’ council stated that whereas they might not touch upon hypothesis as to whether or not Diess made the feedback, “a reduction of 30,000 jobs is absurd and baseless”.

Volkswagen can also be considering itemizing its automobile charging and power enterprise as well as to current IPO plans for its battery division, Chief Technology Officer Thomas Schmall instructed Manager Magazin in an interview revealed on Wednesday.

Schmall stated nothing has been determined but and it will in all probability take up to two years earlier than the brand new corporations are established and truly prepared for the inventory market.

“We also have to think in terms of overall systems,” Schmall stated, referring to Tesla’s one-stop-shop advanced with its personal charging community, photo voltaic techniques for inexperienced electrical energy and automobile insurance coverage insurance policies.

Tesla produces its Model 3 automobile in 10 hours, whereas Volkswagen takes 30 hours to make an ID.3.

Reporting by Zuzanna Szymanska; further reporting by Victoria Waldersee; enhancing by Jason Neely

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