Volkswagen to shed 30,000 jobs to cut costs after scandal - KWWL - Eastern Iowa Breaking News, Weather, Closings

Volkswagen to shed 30,000 jobs to cut costs after scandal

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(AP) -

Volkswagen says it's getting rid of 30,000 jobs. The German automaker is cutting costs as it tries to recover from its diesel emissions scandal and invests more in electric-powered vehicles and digital services.

Volkswagen officials say that 23,000 of the job cuts will come in Germany, and that the measures will save some 3.7 billion euros ($4 billion) 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. The scandal has been a spur for the company to address problems such as excessively top-down management and excessive fixed costs at its manufacturing locations in Germany.

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