An anonymous reader quotes a report from Bloomberg: Audi plans to eliminate roughly 15% of its German workforce to lift earnings by $6.6 billion as Volkswagen AG’s largest profit maker pushes ahead with a restructuring plan to help adapt to the costly transition to electric cars. The turnaround is aimed at regaining ground lost to luxury-car leaders Mercedes-Benz and BMWand counter pressure from Tesla. Volkswagen has been scrambling to revive Audi’s fortunes after turmoil sparked by the aftermath of the 2015 diesel-cheating scandal. By 2025, Audi plans to cut as many as 9,500 jobs in Germany and streamline operations at its two main factories in its home country. The positions will be reduced through attrition and voluntary measures including early retirement, Audi said in a statement Tuesday after reaching an agreement with employee representatives. The approximately 50,000 remaining employees in Germany will have job guarantees through 2029, and Audi will create 2,000 new jobs to strengthen its engineering muscle for electric cars and digital offerings.
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