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VW to cut 30,000 jobs, 23,000 in Germany

dpa logodpa 18/11/2016

Volkswagen plans to cut 30,000 jobs worldwide by 2025, most of them in Germany, in a bid to save 3.7 billion euros amid its diesel emissions scandal.

German carmaker Volkswagen has announced that it will cut 30,000 jobs worldwide by 2025, of which 23,000 cuts will occur in Germany.

Sources told dpa earlier on Friday that the job cuts could save Volkswagen about 3.7 billion euros ($A5.31 billion) by 2020, money that is dearly needed after the company admitted in September 2015 to the manipulation of diesel engine emissions tests.

The admission led to mass recalls and compensation settlements in the billions of dollars.

Volkswagen currently employs more than 624,000 people worldwide, with 282,000 employees based in Germany.

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