EMCC European Monitoring Centre on Change

Volkswagen

Company/Organisation:
Volkswagen

Geographic Location

Country: Germany

Company

Sector: Manufacturing
Manufacture of transport equipment
29.1 - Manufacture of motor vehicles
Number Employed: 102500

Employment Effects

Announcement Date: 05-09-2005
Planned Job Reductions min: 10000
Planned Job Reductions max: 10000
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-10-2005
Foreseen End Date: 31-12-2007
Other Job Reduction Measures: 10000

Additional Information

Volkswagen, Europe's largest producer of cars, is suffering from overcapacity and is therefore planning to cut 14,000 jobs at its operations in Europe. 10,000 jobs will be shed in Germany alone. However, there shall be no direct dismissals, workers will be offered early retirement or a compensation.