Volkswagen to invest up to four billion euros in digital transformation

BERLIN (Reuters) - Volkswagen will invest up to 4 billion euros (£3.6 billion) over the years to 2023 to digitalise its administration and production, the German carmaker said on Wednesday, adding that up to 4,000 jobs in non-production units could be cut.

"At least 2,000 new jobs related to digitalization are to be created," the Wolfsburg-based company said.

Works council head Bernd Osterloh added there would be no forced layoffs until 2029.

(Reporting by Thomas Seythal, editing by Thomas Escritt)