Volkswagen is estimating that closing four plants in Germany and cutting up to 60,000 jobs worldwide will cost 16 billion euros, a person familiar with the matter told Reuters on Thursday.
Production shutdowns at the Emden and Zwickau facilities each carry an estimated bill of 1 billion euros, while the Neckarsulm and Hannover plants will cost roughly 2 billion euros apiece, said the source.
An additional 10 billion euros has been earmarked for workforce reductions spanning the group's global operations.
The figures were first reported by Der Spiegel, which cited a supervisory board resolution from last week and internal company documents. A Volkswagen spokesperson declined to comment on the confidential materials.
The plan marks one of the most significant restructuring moves in the German automaker's history, as it shifts resources away from internal-combustion production toward its electric-vehicle strategy.
