Volkswagen reportedly considering cutting up to 30,000 jobs

Volkswagen is thinking of cutting up to 30,000 jobs to reduce costs and improve competitiveness with rivals such as Tesla.

This was first reported by the German daily Handelsblatt reported on Wednesday. It mentioned a presentation made by Volkswagen CEO Herbert Diess to the supervisory board.

A spokesperson for Volkswagen’s workers’ council has rejected the report.

Volkswagen is also thinking about listing its car charging and energy business together with existing IPO plans for its battery division, Chief Technology Officer Thomas Schmall informed Manager Magazin in an interview published on Wednesday.

Schmall said nothing has been decided currently and it would probably take about two years before the new companies are established and actually ready for the stock market.

“We also have to think in terms of overall systems,” Schmall said.