Dhaka, March 18 -- German luxury automaker Audi has announced that it will slash 7,500 jobs in Germany by 2029, adding to a growing wave of layoffs across the country's auto industry as companies push to reduce costs and shift to electric vehicles.

Audi's job cuts will affect non-production roles, including administration, marketing and development. Along with further salary reductions, the move is expected to save around 1 billion euros (1.09 billion US dollars) in labor costs annually in the mid-term, the Volkswagen subsidiary said on Monday.

Of the total positions being eliminated, 6,000 will be cut by 2027, with the remaining reductions completed as of 2029, reports Xinhua.

As part of its push to remain competitive, Audi plans to i...