Volkswagen’s nearly 9,300 staff agree to early retirement

Volkswagen on Tuesday stated almost 9,300 staff had agreed to an early retirement plan, helping the automaker to bring down costs.

“We are rapidly approaching our target of 9,300 contracts signed. Workers who wish to take partial early retirement should make their decision by July 31,” Volkswagen’ board member for Human Resources Karlheinz Blessing stated.

The scheme is intended mostly at people born between 1955 and 1960.

Volkswagen has assured that there will be no forced redundancies as part of its “Transform 2025+” strategy to slash the workforce and enhance productivity by 25 percent until 2025.