Volkswagen to Cut 30,000 Jobs Worldwide, Says Diess

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November 18 -- Volkswagen AG reached a landmark agreement with workers to cut as many as 30,000 jobs globally and save 3.7 billion euros ($3.9 billion) in expenses as the company tries to claw back from the emissions-cheating scandal and invest in electric vehicles. Reducing headcount by nearly 5 percent will come through attrition as the automaker agreed to refrain from forced layoffs until 2025, the Germany-based company said Friday. “This is a big step forward, maybe the biggest in the company’s history,” VW brand chief Herbert Diess said at a press conference in Wolfsburg.