Ingolstadt: Audi, a brand of German automaker Volkswagen Group, announced Monday that it will lay off 7,500 jobs in Germany in areas such as management and development until 2029, according to a press release by the firm. “The economic conditions are becoming increasingly tougher, competitive pressure and political uncertainties are presenting the company with immense challenges,” it said.
According to Anadolu Agency, the manufacturer stated that it was investing a total of £8 billion (around $8.7 billion) in its German locations over the next four years. The proposed measures, which were agreed upon Monday by management and labor representatives, are expected to save the company £1 billion annually in the medium term.
Audi CEO Gernot Dollner emphasized the collaboration between company management and the works council during this transitional period. “In times of profound change, company management and the works council are pulling in the same direction,” said Dollner. “With this clear agreement, we are strengthening Audi’s competitiveness and future readiness in equal measure. Together, we are sending a clear signal for more focus, efficiency, and profitability at our German sites. This has created the conditions for continuing the transformation in a scope-driven manner,” he added.
Moreover, Audi announced the establishment of a “future fund” worth £250 million. This fund is intended for the development of digitalization, artificial intelligence systems, and more advanced vehicles, further underscoring Audi’s commitment to innovation and technological advancement.