Naveed2d ago
If completed, the cuts, which are likely to be subject to tough negotiations with unions, would surpass the 74,000 jobs eliminated by General Motors in a 1990s restructuring and the 60,000 removed by IBM in 1993. https://giftarticle.ft.com/giftarticle/actions/redeem/88e7ab33-8e25-41dc-b49a-67c7b56882b0
Volkswagen to axe up to 100,000 jobs in sweeping cost-cutting drive

Restructuring would remove close to one in six workers and rank among biggest corporate lay-offs of all time

Financial Times
Show threadNaveed2d ago
#Volkswagen has been seeking a buyer for its factory in Osnabrück, where production is set to run out next year, and has held talks with the maker of #Israel’s #IronDome missile defence system.
Show threadNaveed
#Europe|an car manufacturers have been hit by the rise of #China's carmakers, which accounted for almost one in 10 new vehicles sold in the region in the first five months of the year, according to European car industry body #Acea.
Jun 26 at 4:20pmWeb
Show threadNaveed2d ago
#VW reached a landmark agreement with unions at the end of 2024 to cut jobs and capacity in #Germany, but the auto manufacturer has said the impact of #US tariffs, the conflict in the #MiddleEast and a worsening situation in #China necessitates more action.