VW plans to cut up to 10,000 jobs and shut plants, report says

German firm reportedly considering doubling previously announced staff reductions amid Chinese competition Business live – latest updates Germany’s Volkswagen is to cut up to 100,000 jobs and reduce and eventually stop production at some plants, according to reports. The company has refused to comment on reports of a management presentation at a board meeting outlining dramatic cost cutting, but if it goes ahead it would mean Volkswagen doubling previously announced staff reductions. Continue reading...

This story was reported by Europe | The Guardian. EUROPES curates Europe's most relevant coverage — read the full report at the original source.