Business · 1 hour ago
Volkswagen cutting 50,000 more jobs in major restructuring
Volkswagen's board gave its approval on Thursday for a strategy to eliminate an additional 50,000 positions, reaching a total of 100,000 job reductions by the year 2030. This significant reorganization will also involve a 50% reduction in its vehicle offerings and the cessation of automobile manufacturing at four German factories. Volkswagen, which employs around 650,000 people, is experiencing a decline in sales and intense competition, particularly from Chinese brands.
Reported by BBC · How we write briefs