Volkswagen, Europe’s biggest automaker, is planning to sack 100,000 of its workers over the next few years.
The automaker is planning to cut 15 per cent of its global workforce, Manager Magazin, a German business magazine, reported on Friday.
“Volkswagen plans to cut up to 100,000 jobs,” the report stated.
The automaker is also planning to shut down four of its German plants, a move that would result in massive job cuts.
“Volkswagen CEO Oliver Blume is getting serious. He plans to drastically intensify job cuts, actually phase out production at four German plants and spin off the VW brand into a new company. Volkswagen is to become a new company,” the report stated.
Mr Blume presented the proposed job cuts to senior executives earlier this week.
Volkswagen has about 660,000 employees worldwide. The automaker had already announced plans to cut 50,000 jobs in Germany by 2030.
