Investing.com -- Audi, the Volkswagen (ETR: VOWG_p ) subsidiary, is facing major changes as CEO Gernot Döllner has announced plans for significant cuts in materials and personnel, according to Handelsblatt. This move is part of a broader savings plan aimed at reducing costs by billions of euros.

The plans are expected to have a significant impact on both employees and suppliers. The exact amount of the proposed cuts has not been disclosed, but it is known that they will amount to billions of euros.

These cost and return targets have been met with criticism and there is a potential for strikes. The savings plans were announced amidst ongoing struggles at Audi, indicating that the company is looking for ways to improve its financial stability.

As the plans become more concrete, the company’s management team, led by Döllner, is expected to provide more details in the near future. The move marks a significant shift in strategy for Audi, as the company aims to manage its resources more efficiently.

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