Automaker Volkswagen says it will shed 30,000 jobs to cut costs as it tries to recover from its diesel emissions scandal and invests more in electric-powered vehicles and digital services.
Company officials said at a news conference at headquarters in Wolfsburg, Germany, that 23,000 of the job cuts will come in Germany. It said the measures will save some 3.7 billion euros a year from 2020.
Volkswagen has agreed to pay $15 billion under a settlement with U.S. authorities and owners of some 500,000 vehicles with software that turned off emissions controls. Around 11 million cars worldwide have the deceptive software.
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The company has said it aims to cut nonessential costs and investments and shift investment toward battery-powered cars and services such as car-sharing and ride-sharing.