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Business

Volkswagen Denies Plans for Hiring Freeze

Germany's largest carmaker, Volkswagen, on Monday denied it had imposed a hiring freeze. In response to a report in the tabloid newspaper Bild, a VW spokesman said the company would try to sink its personnel cost over the long term, but that did not include implementing a stop on new hiring. "Volkswagen hasn't decided to impose a hiring freeze. But in light of market weakness, we are reluctant to hire," the spokesman told Reuters. In an interview with the Welt am Sonntag, Volkswagen CEO Bernd Pischetsrieder said over the weekend that VW will neither close factories nor sell off luxury brands in its drive to slash costs as it confronts a weak auto market. VW plans to detail aspects of a cost-cutting program on Tuesday.