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Audi strikes deal with workers to slash 9,500 jobs

'The resulting savings of around 6 billion euros will secure the strategic operating profit margin corridor of 9 to 11% and will be invested in projects of the future such as electrification and digitalisation,' the company said in a statement.

November 26, 2019 / 07:03 PM IST

Audi on November 26 announced a major restructuring scheme, slashing around 9,500 jobs until 2025 in an effort to adopt production to the e-mobility era and achieve billion-euro cost savings.

"The resulting savings of around 6 billion euros will secure the strategic operating profit margin corridor of 9 to 11% and will be invested in projects of the future such as electrification and digitalisation," the company said in a statement.

Audi said that the cost savings would be achieved by 2029.

 
Reuters
first published: Nov 26, 2019 06:50 pm

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