Board of Management and General Works Council of Volkswagen have signed a pact for the future in Wolfsburg following constructive negotiations. This pact will initiate the return of the Volkswagen brand to a path of profitable growth. The program for the German plants with about 120,000 employees is to significantly improve the competitiveness of the Volkswagen brand and to make the company fit for the future. It will lay the foundation for the transformation of Volkswagen from a pure automaker into a successful mobility service provider in the age of digitalization and increasing e-mobility. The main focus is on reorientation across the entire value stream. By 2020, the Volkswagen brand intends to be completely repositioned. Compulsory redundancies are to be excluded and the workforce is to be reduced in a socially compatible way. At the same time, new jobs are to be created in future-oriented areas. Specifically, the pact for the future is to have a positive impact on earnings of €3.7 billion per year by 2020. Of this figure, the German facilities will account for €3.0 billion. Over the next few years, investments of about €3.5 billion in future-oriented areas of these facilities are planned. This will result in the creation of 9,000 jobs. On the other hand, there is to be a loss of up to 23,000 jobs in conventional areas in Germany, which will be accomplished in a socially compatible way.
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