Volkswagen planning to cut up to 100,000 jobs globally
- The chief executive of the German car giant Volkswagen Group has confirmed it is looking to cut up to 100,000 jobs – twice as many as previously stated.
- The group, which includes Porsche, Audi, Seat and Skoda as well as the VW brand, had previously said it would axe some 50,000 posts in Germany by 2030.
- It suffered a steep decline in profits last year – the result of falling sales in key markets, as well as increasing competition from Chinese brands moving into Europe.
Confirmed
- The chief executive of the German car giant Volkswagen Group has confirmed it is looking to cut up to 100,000 jobs – twice as many as previously stated.
- The group, which includes Porsche, Audi, Seat and Skoda as well as the VW brand, had previously said it would axe some 50,000 posts in Germany by 2030.
- It suffered a steep decline in profits last year – the result of falling sales in key markets, as well as increasing competition from Chinese brands moving into Europe.
Sources: BBC News