Audi to Retrench 9,500 Workers amid Transition to Electric Cars

The Carmaker Recently Recorded Drop in Sales and Operating Profits

0
103

Audi has announced that it will cut its German workforce by 9,500 between now and 2025 to cut cost and facilitate the manufacture of electric cars and digital working.

The Volkswagen-owned carmaker aims at saving £5.1bn through the early retirement programme. However, the company believes the transition into electric cars will create 2000 more jobs.

The announcement comes weeks after Daimler said it would send more than 1000 of its workers into early retirement.

Audi reported a decrease in sales and profits in the first nine months of 2019.

The key markets of the auto-industry are gradually shrinking as the carmakers rush to comply with tougher European Union emissions regulations, a move that has forced the companies to make a costly transition into electric cars.