Volk­swa­gen to shed 30,000 jobs, cut­ting costs

Baltimore Sun - - MARYLAND - — As­so­ci­ated Press

Volk­swa­gen an­nounced plans Fri­day to cut 30,000 jobs in a wide-rang­ing re­struc­tur­ing of its name­sake brand as it tries to re­cover from a scan­dal over cars rigged to cheat on diesel emis­sions tests. The Ger­man com­pany said the job cuts, which amount to around 5 per­cent of its global work­force, are part of a long-term plan to im­prove prof­itabil­ity and shift re­sources and in­vest­ment to elec­tric-pow­ered ve­hi­cles and dig­i­tal ser­vices. Com­pany of­fi­cials said that 23,000 of the job cuts will be in Ger­many and that the mea­sures will save some 3.7 bil­lion euros ($4 bil­lion) a year af­ter 2020. The Volk­swa­gen brand em­ploys around 120,000 peo­ple in Ger­many. The an­nounce­ment caps a dif­fi­cult year for Volk­swa­gen

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