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Volkswagen to cut 20,000 workers
12 Feb 2006
source:
bbc.co.uk
German carmaker Volkswagen is to cut up to 20,000 jobs as part of restructuring plans that are set to run until 2009. The company is expected to make the cuts at its core Volkswagen business. Its shares jumped 8% to 54.79 euros. Carmakers are facing difficult times as competition increases, raw material costs rise and consumers prove tough to lure into buying new models. Ford will cut 30,000 jobs, the boss of General Motors has slashed his own pay and Renault has unvield a new strategy. " ... |
