Volkswagen AG [s:vlkay] VOW3, +0.25% plans to cut up to 23,000 jobs in Germany as it moves focus from traditional car making to electric vehicles and digital mobility, the German auto maker said in a statement Friday. The company expects its restructuring to have a positive earnings effect of 3.7 billion euros ($3.9 billion) a year from 2020, it said. In addition, VW said it is investing about 3.5 billion euros in its shift to e-mobility, including setting up a pilot plant for battery cells. As for the job cuts, VW plans to rely on partial retirement and other fluctuations in roles to avoid redundancies. Shares in Volkswagen rose 1.1% in Frankfurt after the news.