London (CNN Business) Audi is reducing its workforce by 7,500, the latest example of dramatic changes roiling the global autos industry.

of its global workforce. At the same time, it will create 2,000 jobs focused on The German premium car brand announced Tuesday that it would cut 9,500 jobs by 2025, or roughly 10%of its global workforce. At the same time, it will create 2,000 jobs focused on electric mobility and other new technology.

Volkswagen VLKAF Audi, which is owned by, said the job cuts would be achieved through turnover and retirement. It guaranteed jobs for its remaining workers through 2029. The changes will free up €6 billion ($6.6 billion) over 10 years that Audi plans to invest in the cars of the future.

The cuts are part of an agreement with worker representatives that allows two major Audi factories in Germany to be overhauled to make electric vehicles. Audi expects the plants in Neckarsulm and Ingolstadt, where its headquarters are located, to produce a combined 675,000 cars a year.

Established carmakers around the world are ripping up their business models in the hope of adapting to a new world in which electricity replaces gasoline and diesel.