VW in US$8 bil software revamp as tech shift expands

Volkswagen will cut its labor force across the traditional car making business, as the company moves into electric and connected-car shift. FMTNews

Herbert Diess has mapped out a massive expansion in software and digital investments.

VW employs some 650,000 workers globally, with the labor force steeling for cutbacks across the traditional car making business. VW chief executive officer Herbert Diess has mapped out a massive expansion in software and digital investments, and earlier this year started the rollout of the industry’s biggest automotive cloud with strategic partner Microsoft Corp.

Net headcount is down 6,900 people as of July this year while the carmaker added about 3,400 new jobs in areas like software development of car connectivity, according to an investor presentation.

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