• Jul 19th 2006 at 2:34PM
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Well, Volkswagen's job cuts at the brand's German facilities may not be popular, but at least they're fair. The company confirmed Wednesday that its plan to improve productivity and efficiency by cutting up to 20,000 jobs includes up to 20 percent of the company's 1,000 management staff.

The company hopes that managers will take the early retirement package currently on the table, which offers a payout of up to $245,000, plus a bonus of $68,000 for pulling the ripcord on the golden parachute before the end of September.

So far about 2,000 workers at all levels have accepted Volkswagen's severance package.

[Source: Reuters]

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