Volkswagen and workers representatives have agreed on the key points of a cost-cutting drive at the VW brand that should yield a positive contribution of 4 billion euros ($4.38 billion) to its results in 2024, the company said on Tuesday.
The brand plans to optimise material and product costs, reduce fixed and production costs, and increase its revenues to achieve its target, it said in a statement.
It will also offer partial retirement for workers born in 1967, or 1968 for those with severe disabilities, to reduce costs particularly in the administrative personnel area, it said.
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