FRANKFURT, July 29 (Reuters) - Volkswagen will not hit its target of improving gross earnings at its flasghip VW Brand Group by 7 billion euros ($8.45 billion) by 2008 unless it cuts staff costs, Chief Executive Bernd Pischetsriedersaid on Friday.
"This is not possible without reduction of personnel costs," he told a conference call, adding this could feature headcount reductions via early retirement "but as well other" measures or more flexible deployment of staff.