Audi to cut $17bn from costs by 2022

A workforce decline by almost 3% per year is also expected to follow

Photo: EPA A view on Audi cars on display, during the inauguration of the Brussels Motor Show

Volkswagen's premium brand Audi wants to cut costs by $17bn by 2022, a German business magazine reported on Thursday, citing Audi executives. According to the information, the cost cuts are aimed at help helping finance projects such as a shift to electromobility at Audi, but they will as well result in a 3 percent decrease in Audi's staff per year, or around 14,000 jobs by 2024.

Yet, Audi’s management is reportedly still in talks with labor representatives to assess how many workers it will need at its various sites in the future, considering ongoing changes in the automotive sector.

Savings, however, are particularly important for VW at the moment after an emissions scandal and associated fines worth billions of dollars. The company also faces a big bill to make its combustion engines comply with new anti-pollution rules.

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