BERLIN—Luxury-car maker Audi AG said it would eliminate 9,500 jobs over the next five years as part of a restructuring aimed at bolstering profit in a slowing global auto market.
The overhaul is expected to reap savings of roughly €6 billion ($6.6 billion) through 2029, a large part intended to finance Audi’s move away from production of conventional cars and toward electric vehicles. The plan doesn’t entail any layoffs through 2029, with the workforce reduction to be achieved through employee turnover.
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