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Volkswagen’s flagship brand, VW, has announced between 5,000 and 7,000 job cuts by 2023 as part of an austerity package aimed at financing heavy investments in the electric and autonomous car.
“Due to the automation of routine tasks, the company assumes that 5,000 to 7,000 positions will disappear by 2023,” said VW, noting that the reduction will be through the non-replacement of retirements.
