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

BERLIN - ​Volkswagen is ​pressing ahead with sweeping ​job cuts and cost reductions in Germany ‌as planned, ⁠shrinking ⁠its workforce by ​19,000 by the end of ​the year, CEO Oliver Blume is ​set to ⁠tell investors ‌at ​the ​upcoming AGM.

More than ⁠28,000 job cuts have been ​agreed as a binding target ​for 2030, according to a transcript of Blume's speech ‌for the event on June 18.

"We reduced factory ⁠costs at Volkswagen's German sites by more than 20% by 2025," he said.