VWAGY - Volkswagen Plans €10B Savings Plan With Staff Cuts Amid EV Shift: Report | Benzinga
The renowned German automaker Volkswagen AG (OTC: VWAGY) reportedly plans a substantial cost-saving initiative totaling €10 billion ($10.9 billion).
This program is set to include staff reductions as part of the company's broader strategy to enhance efficiency during its shift towards electric vehicle production, reported Reuters.
The German carmaker is in talks with its works council over a cost-cutting scheme at its VW brand, the report added.
As per the report, brand chief Thomas Schaefer communicated with the staff about the urgent ...