Volkswagen plans 23,000 job cuts in Germany

Volkswagen plans 23,000 job cuts in Germany
 

Volkswagen has announced plans to cut 23,000 jobs in Germany in order to make €3.7bn (£3.2bn, $3.92bn) in annual savings by 2020.
The company, which is still dealing with the aftermath of the emissions-cheating scandal, is aiming to rejuvenate its core brand, and develop new electric and self-driving cars.
VW and unions have been hammering out a plan to revive its fortunes since June.
It hopes to be able to increase the brand's profit margin from 2% to 4%.
To do this it will need to improve productivity at its German plants by 25%.
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18 November 2016 in Business, Views: 46
Source: BBC
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