Reported 23 days ago
Analysts at Jefferies report that Volkswagen may allocate up to €4 billion ($4.4 billion) for provisions related to planned capacity cuts, expected as early as the fourth quarter. This follows Volkswagen's announcement of possible plant shutdowns in Germany for the first time. The company's restructuring efforts include terminating job security schemes, raising tensions with unions, which may lead to layoffs as part of its strategy to address competitiveness against Asian automakers.
Source: YAHOO