Volkswagen confirms weighing up to 50,000 more job cuts
Headline from Digital Journal
"As half of our overheads stem from staff costs, a theoretical calculation -- assuming no change in labour costs –- would result in the loss of around 50,000 jobs."
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Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad support Business live – latest updates The chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories …
"As half of our overheads stem from staff costs, a theoretical calculation -- assuming no change in labour costs –- would result in the loss of around 50,000 jobs."
BERLIN >> Volkswagen may need to cut about 50,000 more jobs to match the competitiveness of rivals, its CEO told staff in an internal memo, effectively confirming for the first time that the automaker is looking to reduce up to 100,000 positions.
