Volkswagen unveils major job cuts in cost-saving drive

Quick Summary:

Europe’s largest carmaker will save around $5.66 billion a year.

The agreement however foresaw cuts to production across Volkswagen’s 10 German factories and corresponding job losses.

The situation at the eponymous mass-market Volkswagen brand, which employs around 120,000 people in Germany, was “serious” and demanded urgent action, management argued.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaGermanyMexico

Topics: Factory German Germany Production Costs Group Labour Volkswagen Electric Vehicles Been

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-22 @ 11:45:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 707 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24579004

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