Volkswagen China clarifies that a 20% reduction in personnel costs does not mean layoffs

Regarding the rumor that "Volkswagen has set up the 'KI 10' performance project to reduce personnel costs by 20% in the next three years", Volkswagen China said that this is an efficiency plan of the headquarters, and the goal is to achieve a 20% efficiency improvement in the three years after 2023, including Volkswagen China. This 20% refers to indirect labor costs, not layoffs.