News
Volkswagen To Cut Several Billions Of Dollars In Costs
Volkswagen aims to reduce costs by around €60 billion with a new cost-cutting program, significantly more than previously anticipated. Business magazine Manager Magazin reports this, citing sources. The goal is to reduce costs by 20 percent by 2028.
The reason for the intervention is disappointing sales in China and the US import tariffs. As a result, previous cost-cutting measures are insufficient. According to the business magazine, factory closures are not ruled out, nor are further job cuts on top of the 35,000 jobs already announced. A VW spokesperson declined to comment on the matter, citing the cost-cutting programs already underway at all brands.
VW CEO Oliver Blume will provide an interim update on the situation during the annual press conference on March 10. Works council chair Daniela Cavallo emphasized that factory closures and forced layoffs are “explicitly excluded” in a deal reached with management.
-
Latest Cars1 week agoAll-New 5th-Gen BMW X5 Adopts Neue Klasse Design, Introduces Electric iX5
-
Celebrities Auto1 week agoCubana Chief Priest Swaps Rolls-Royce Cullinan For 2026 Ferrari Purosangue At Car Dealership
-
Tech1 week agoSoon, Older Teslas Will Also Have Access To Tesla FSD, Although They Will Be “Lite”
-
Business1 week agoDubai-based $28m Boat Tail Flies To London, Meets With $30m Droptail At Rolls-Royce Invite-only Event
-
Car Facts1 week agoAfter 15 Years, Many Hydrogen Vehicles Are Completely Lost
-
Autoshows & Awards1 week agoToyota GR GT, GR GT3 And Lexus LFA Concept Set For European Debut At Goodwood Festival Of Speed
-
News1 week agoFour Remastered Defenders Get Color-Changing Finish That Flip Between Green, Purple And Gold
-
Latest Cars1 week ago6 Years Later, Koenigsegg Unveils First Customer Gemera 4-seater Mega-GT With 2,300 HP