Volkswagen Set to Slash Up to 30000 Jobs – Wall Street Journal

Posted: Friday, November 18, 2016

WOLFSBURG, Germany—Volkswagen AG announced a sweeping restructuring of its embattled VW passenger-car brand including up to 30,000 job cuts over five years, part of efforts to boost profits in the wake of the company’s damaging emissions-cheating scandal.

The VW brand, the German automotive giant’s biggest business by sales, has struggled for years to stay profitable. Since admitting last year to rigging nearly 11 million diesel cars…

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