2023-06-12 06:51:19 ET
Volkswagen’s ( OTCPK:VWAGY ) is set to discuss a savings program as early as Tuesday, according to Reuters.
Citing multiple sources close to the discussions, the automaker is set to detail plans to cut €3B ($3.22B) in costs across auto groups including its Czech subsidiary Skoda and Spanish brand Seat and Cupra. The plans will be made public during a June 21 Capital Markets day, the report states .
Frankfurt-listed shares of Volkswagen ( OTCPK:VWAGY ) rose 1.95% in afternoon trading.
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Volkswagen set to discuss cost-savings program - report