Vw says its global staff will increase by more than 10 percent next year

Article by Christian A., on November 14, 2011

Volkswagen’s worldwide staff will possibly increase by over 10% in 2012, according to CEO Martin Winterkorn in an interview with German newspaper Bild am Sonntag. He said that the group could increase the number of its employees from the current 449,000 to about 500,000 employees by the end of 2012.

On the other hand, BMW CEO Norbert Reithofer and Daimler’s Dieter Zetsche were more cautious. They say that they first have to look at how the business develops next year.

Winterkorn has been leading the aggressive expansion of VW. Last September, Winterkorn told Automotive News Europe that VW seeks to reduce costs and raise profits further as part of its goal to get to the top of the automotive world by 2018.

To accomplish this target, VW aims to have global vehicle sales of over 10 million units and a profit margin of over 8%. Winterkorn said that the company is increasing volume as well as cost effectiveness.

He said that capital investments shouldn’t surpass the present 6% share of revenue. Furthermore, the share for r&d shouldn’t go higher than the current 4%.

Winterkorn said that for both figures, the company is “completely on track.” To attain these financial targets, maximizing VW Group's modular car-production system would be key. [source: Autonews]

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