Volkswagen Group’s embattled Cariad software unit has agreed to cut development costs in order to avoid mass lay-offs, according to reports.
Cariad boss and former Bentley production head Peter Bosch had wanted to cut up to 20% of the unit’s 6500-strong workforce, according to an October report from Germany’s Manager Magazine.
However, the new agreement between management and labour unions will enable Cariad to cut 20% of its costs annually by 2028, Bloomberg reported, citing a Cariad spokesperson.
