Nov 18, 2016

Volkswagen plans 23,000 job cuts in Germany

The company, which is still dealing with the aftermath of the emissions-cheating scandal, is aiming to rejuvenate its core brand, and develop new electric and self-driving cars. VW and unions have been hammering out a plan to revive its fortunes since June. It hopes to be able to increase the brand's profit margin from 2% to 4%. To do this it will need to improve productivity at its German plants by 25%. The VW group comprises 12 brands from seven European countries: Volkswagen passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN..

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