Audi strikes deal with workers to slash 9,500 jobs

Audi on Tuesday announced a major restructuring scheme, slashing around 9,500 jobs until 2025 in an effort to adapt production to the e-mobility era and achieve billion-euro cost savings.

"The resulting savings of around 6 billion euros will secure the strategic operating profit margin corridor of 9 to 11% and will be invested in projects of the future such as electrification and digitalization," the company said in a statement.

Audi said that the cost savings would be achieved by 2029.