Furloughed workers at Volkswagen's former plant in Russia are being offered redundancy, according to the union representing them, as the new owners struggle to find a partner to resume output six months after VW finalised its exit from the country.
Volkswagen (OTCMKTS: VWAGY ) is reportedly planning a round of layoffs. The company says that its namesake brand is “no longer competitive” due to its “pre-existing structures, processes and high costs.
A senior Volkswagen executive involved in a global cost-cutting strategy said on Friday he was "very worried" about the future of the company's operations in South Africa, which is fighting persistent power cuts and logistics snarls.
Lamborghini 9M results exceeded 2022 full-year numbers. Volkswagen confirmed its market share gain in the first ten months in the European Union. Downside protection from luxury brands, including P911 development.
Volkswagen said on Friday it will develop a new platform for entry-level electric vehicles in China and use more local components to lower costs, as the German company seeks to regain lost ground in the world's biggest auto market.
Volkswagen said on Wednesday that it would hike salaries for production workers at its Tennessee-based Chattanooga assembly plant by 11%, weeks after the United Auto Workers union won significant pay and benefit hikes from the Detroit Three automakers.
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