Volkswagen (VOWG.DE: Quote, Profile, Research) may cut 20 percent of its 1,000 management jobs, Europe's biggest car maker said on Wednesday, confirming a report in Manager magazine.
"We have always stressed that we want to save staff costs and must restructure, including on the management level," a company spokesman said.
The magazine said about 20 percent of VW managers, like other staff, could be made redundant. It also said VW hoped the managers would go for early retirement and take up its severance packages.
The car maker said earlier this year that up to 20,000 jobs at the VW brand business are at risk as a result of its efforts to boost productivity and efficiency in Germany.
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