Volkswagen offers payoffs to 85,000 workers

Volkswagen AG said today it has offered payoffs to 85,000 workers in Germany if they agree to leave their jobs, the latest step in a drive to slash costs and boost profits at Europe’s biggest car maker.

Workers at six factories in western Germany who accept the offer will receive up to €247,700 each, depending on how long they have been employed and how quickly they leave, Volkswagen said.