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Carmaker Volkswagen To Invest Up To 4 Billion Euros In Digital Transformation

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BERLIN– German car giant Volkswagen will invest up to 4 billion euros over the years to 2023 to digitalize its administration and production, the carmaker Wednesday said.

Up to 4,000 jobs in non-production units could be cut, the company further indicated.

“At least 2,000 new jobs related to digitalization are to be created,” the Wolfsburg-based company said.

Works council head Bernd Osterloh added there would be no forced layoffs until 2029.

SOURCE: REUTERS