Volkswagen CEO threatens 50,000 more job cuts in memo to staff
Volkswagen could cut around 50,000 additional jobs based on calculations aimed at bringing the carmaker into line with the cost competitiveness of other companies, CEO Oliver Blume told staff in an internal memo seen by Reuters on Monday.
This means a “theoretical deduction” of another 50,000 jobs worldwide, according to the memo.
After already agreeing to 50,000 job cuts across the group, including its Porsche, opens new tab and Audi subsidiaries, the company must work on reducing costs further, having calculated a cost disadvantage versus comparable companies of 20%, Blume said.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
