Volkswagen to shed up to 7000 jobs through automation

Content image- Phnom Penh Post

Content image- Phnom Penh Post

Higher unit sales and increased revenues a year ago helped VW to a net profit 6.0 per cent higher, at €12.15 billion ($13.7 billion), the group said.

The VW brand accounts for about half of VW Group's global deliveries.

Labor costs are a "big concern" that risk derailing a much needed streamlining of operations, Herbert Diess, CEO of VW, told investors March 12. At a question and answer session Tuesday, the 12-brand Volkswagen gather said it would build the quantity of electric models it offers over its brands like VW, Porsche, Audi or Skoda over the coming decade to 70, 20 more than recently arranged. Further measures will include lowering material costs and lifting productivity at its factories by 5 per cent to achieve an operating profit margin of 6 per cent in 2022. VW says the move will help ensure profitability as the company transitions to the electric and autonomous vehicle era.

Bernd Osterloh, VW's powerful labor leader, said he only supported cutbacks if jobs become superfluous.




Volkswagen stuck to its outlook, reiterating that it expects revenues to grow up to 5%, and to deliver an operating return on sales at group level of between 6.5-7.5% in 2019.

At the same time, VW plans to increase investment in "future issues" to 19 billion euros by 2023, 8 billion euros more than originally planned.

Volkswagen states that first adopters of the I.D. will receive special, launch-edition cars, but has not specified how these will stand out from subsequent models. The Germany-based manufacturer's new target is significantly higher than its original goal of 15 million electric vehicles. Order books for electric ID hatchback open on May 8 and sales chief Juergen Stackmann said feedback from dealers is so strong that the model might be sold out before its official presentation in September.

MAMMOTH German carmaker Volkswagen (VW) massively expanded on Tuesday its plans for electric auto sales in the coming decade, as its scramble to meet tougher greenhouse emissions targets has already begun weighing on profitability. VW's pursuit of a dedicated format rather than a more flexible one emulates e-car pioneer Tesla.

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