Business

Volkswagen board approves cutting 50,000 more jobs and closing 4 plants

Castanet 14 h

Canada

Volkswagen board approves cutting 50,000 more jobs and closing 4 plants — Sources: Castanet

Volkswagen's board of directors on Thursday approved a sweeping cost-cutting plan that would cut 50,000 jobs, slim the company's model line by half and end auto production at four German plants. The plan put forward by CEO Oliver Blume to counter low-cost competition in China and headwinds from U...

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