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Volkswagen labor leaders today said they had not yet struck a deal with management on cost cuts at VW brand, denying an earlier report in a German business magazine.

Manager Magazin had earlier reported on its website that VW had agreed with labor leaders on cutting costs at the VW brand by between 5 billion and 6 billion euros ($5.5-6.6 billion) by 2025 at the latest.

VW will take advantage of natural attrition to cut between 10,000 and 20,000 staff over the next decade, the magazine had said, citing unnamed sources familiar with the talks.



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