Sunday 20 November 2016

Volkswagen To Scrap 30,000 Jobs Worldwide


German carmaker Volkswagen to axe 30,000 jobs as part of a restructuring designed to help the cmpany to recover from the diesel emissions scandal.

The cuts will be in the core VW business, as opposed to its other brands such as Porsche, Audi and Seat, and 23,000 will be in Germany. There will also be job cuts in Brazil, Argentina and North America.

Matthias Müller, the chief executive, said the move was the “biggest reform package in the history of our core brand”.

VW is still reeling from the emissions scandal that engulfed the company last year. The company admitted that 11m diesel cars had been fitted with software that allowed them to cheat tests. It has set aside billions of euros to deal with the crisis, which led to VW’s first annual loss in more than 20 years, but the carmaker faces a string of legal and regulatory cases worldwide.

VW has agreed a settlement in the US to pay up to $15bn (£12bn) to authorities and owners of some of the nearly 500,000 affected vehicles.

Herbert Diess, the head of the VW brand, said the cuts would make the carmaker “leaner and more efficient”. The company intends to shift more investment and resources into developing electric cars and wants to launch 30 electric-powered vehicles by 2025.



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