Under-pressure carmaker will shed 15% of workforce and halve its product line in sector’s biggest ever restructure The car company Volkswagen has confirmed that it will shed 100, 000 jobs by the end of the decade after being hit by US tariffs and fierce competition from Chinese rivals.
The German manufacturer said management and unions had agreed as part of a sweeping cost-cutting plan to cut a further 50, 000 positions by 2030, bringing total job losses in the pipeline to 100, 000. Continue reading...