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Volkswagen set to slash up to 4,000 jobs in digital transformation

Volkswagen cars at the harbor of Bremerhaven, Germany.
Patrik Stollarz | AFP | Getty Images

Volkswagen will invest up to 4 billion euros over the years to 2023 to digitalize its administration and production, the German carmaker said on Wednesday, adding that up to 4,000 jobs in non-production units could be cut.

"At least 2,000 new jobs related to digitalization are to be created," the Wolfsburg-based company said.

Works council head Bernd Osterloh added there would be no forced layoffs until 2029.