VW\'s Audi to cut 10 percent of management positions: CEO in Handelsblatt

VW's Audi to cut 10 percent of management positions: CEO in Handelsblatt

Reuters  |  FRANKFURT 

(Reuters) - Volkswagen's premium auto brand plans to eliminate one layer of management or about 10 percent of the division's positions in a cost cutting drive, the unit's told daily

He reaffirmed a target for a total of 15 billion euros ($17 billion) in cost savings through 2022.

said in December it would invest 14 billion euros through 2023 in electric mobility, digitalisation and autonomous driving.

The division is at risk of losing its position as VW's leading development centre as the parent explores with and other rivals.

Audi aims to reduce the number of engine types by one third and it is also in talks with shop stewards about stopping the night shift at its Ingolstadt factory, Schot was quoted as saying by

(Reporting by Ludwig Burger; Editing by Kirsten Donovan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 21 2019. 00:37 IST