BERLIN: Volkswagen CEO Oliver Blume aims to slash up to 100,000 jobs from its current workforce worldwide over the next few years, Manager Magazin reported on Friday.
The magazine also said Blume intends to reduce investment by around 15% to just over €130 billion ($148 billion) over the next five years.
Blume and CFO Arno Antlitz aim to completely restructure the company, the business magazine added, citing sources.
Volkswagen's namesake core VW brand and the parts-manufacturing plants would be spun off from the current group structure and incorporated into separate entities, the report said.
Over the mid-term, VW is planning to close its production facilities in Hanover, Zwickau and Emden as well as a plant of sister brand Audi in Neckarsulm, all located in Germany, the magazine said, with production to be discontinued once the models currently manufactured there are phased out.
Volkswagen did not immediately respond to a request for comment. - Reuters
