Volkswagen Plans to Cut 50,000 Jobs
Facing growing competition from China and rapidly advancing technology, the German auto giant said its board had approved a “comprehensive” overhaul.
ARCHIVED · 3 LEFT · 1 CENTER · 0 RIGHT · Sep 4, 12:56 AM
Business Insider and UPI describe the same event in different terms.
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Still Watching. The left frames it as "Volkswagen Plans to Cut 50,000 Jobs". The center frames it as "Volkswagen to cut 50,000 jobs as part of restructuring plan".
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Sep 3, 9:29 PM: Le Monde English joined the source map.
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ARCHIVED SOURCES
Facing growing competition from China and rapidly advancing technology, the German auto giant said its board had approved a “comprehensive” overhaul.
Volkswagen said it would cut 50,000 more jobs as it faces surging competition from China, high energy prices, and a costly transition to EVs.
Volkswagen, the world's second-largest automaker, is trying to get more nimble. It's planning huge job cuts as Chinese automakers step up competition.
The total cuts will be the largest restructuring ever carried out in the global automotive industry, amounting to about 15% of the carmaker's staff worldwide.