Volkswagen on Tuesday, June 6 said close to 9,300 staff had agreed to an early retirement scheme, helping Germany's largest carmaker to bring down costs, Reuters reports.

"We are rapidly approaching our target of 9,300 contracts signed. Employees who wish to take partial early retirement must make their decision by July 31," VW' board member for Human Resources Karlheinz Blessing said.

The scheme is aimed mainly at people born between 1955 and 1960.

Volkswagen has guaranteed that there will be no forced redundancies as part of its "Transform 2025+" plan to cut the workforce and improve productivity by 25 percent until 2025.