Volkswagen offers payoffs to 85,000 workers
01/06/2006 - 16:24:30Volkswagen AG said today it has offered payoffs to 85,000 workers in Germany if they agree to leave their jobs, the latest step in a drive to slash costs and boost profits at Europe’s biggest car maker.
Workers at six factories in western Germany who accept the offer will receive up to €247,700 each, depending on how long they have been employed and how quickly they leave, Volkswagen said.
The company said it was too early to judge how many workers would accept the offer, which runs through June 2007.
It said the programme was designed to make it competitive again in a crowded industry.
“Alongside all other efforts, that also means reducing personnel,” it said.
