Volkswagen Restructuring: US$18.6 Billion Earmarked for Cuts and Plants
The plan adds about 50,000 more job cuts and cuts investment to $157 billion through 2031 as profits fall and excess capacity rises.
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8 Articles
Volkswagen estimates that the total cost of the staff cuts and the possible closures of factories, part of a historic restructuring agreement signed last week, is about 16 billion euros, reported on Thursday (10) a separate source of the subject. The German assembler, the largest in Europe, started its biggest restructuring of all time, citing a battle for survival against China's competition, costly tariffs and excess capacity. The plan include…
The plan provides for a reduction of personnel and a possible phase-out of production in four German factories.
The assembler started its biggest restructuring of all time, citing a battle for survival against China's competition, costly tariffs and excess capacity
This decision is part of a landmark agreement recently reached and concerns the largest restructuring in the company's history.
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