Volkswagen is reportedly preparing to unveil restructure
plans today that will include up to 30,000 job cuts.
The German car maker is overhauling its business in a bid to
boost profitability, and will reduce its workforce significantly by 2020. The
group said it would make no compulsory redundancies.
Of that total, 23,000 roles will be reduced in Germany, as
the group seeks to save up to €3.7bn (£3.2bn). The remaining jobs will be axed
outside of Germany, mainly in North and South America.
The embattled firm is trying to reduce costs as it struggles
to pay for the fallout from the emissions scandal that rocked the company last
year.
The group was hit hard by the revelation that it had cheated
on emissions tests of its vehicles - it resulted in the departure of chief
executive Martin Winterkorn, the recalling of 800,000 vehicles, and a decimated
share price.
No comments:
Post a Comment