Volkswagen to reduce workforce by 19,000 by end of year, CEO says

Volkswagen is set to implement substantial job cuts and cost reductions in Germany. The company plans to shrink its workforce by 19,000 by the end of this year. A binding target of over 28,000 job cuts is set for 2030. Factory costs at Volkswagen's German sites will be reduced by more than 20% by 2025.

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