Volkswagen Board Approves Turnaround Plan, Flags 50,000 Possible Job Cuts Across Group
73 Articles
73 Articles
Volkswagen's Supervisory Board has unanimously approved reorganization plans. This means that 50,000 jobs will be lost, on top of an earlier reorganization in which 50,000 jobs were already cut. Major shifts are set to take place within the group, which also includes brands such as Audi, Skoda, Seat, and Porsche. In addition to the large round of layoffs, the number of models is also being halved. Four factories are also at risk: production ca…
Europe's largest vehicle manufacturer is tightening its belt further. 50,000 jobs will be lost at Volkswagen in the coming years – as many as have already been announced.
The board of directors of Volkswagen unanimously approved, on Thursday (3), a broad operational transformation plan that can result in the cutting of about 50,000 jobs throughout the group, including leading positions, in an initiative aimed at regaining the competitiveness of the German assembler. Baptized by ☆Future Plan, the project developed by the executive board and chancellored by the board seeks to make the Volkswagen Group and its brand…
The German carmaker Volkswagen plans to cut another 50,000 jobs worldwide in the coming years. The automotive group announced this. Earlier savings were already announced in March, meaning that 100,000 jobs will now disappear at Europe's largest carmaker. In Germany, four factories will have to close.
The group’s Supervisory Board unanimously gives the green light to the plan to transform the company and improve its efficiency and competitiveness, without specifying whether or not it will affect the Spanish brand Seat
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