Volkswagen to slash model lineup and capacity amid cost-cutting drive
Volkswagen’s management plans to drastically reduce its model lineup and cut capacity, following reports it may close four German factories and cut up to 100,000 jobs.
Volkswagen is preparing a major restructuring that includes a sharp reduction in its model lineup and additional capacity cuts, according to a report from @FirstSquaw. The move comes amid widespread cost pressures facing the German automaker.
Earlier reports indicated that Volkswagen is considering the closure of four German factories and up to 100,000 job cuts as part of its turnaround efforts. The company has not yet confirmed these plans publicly.
The developments signal deepening challenges for Volkswagen as it struggles with slowing demand, high production costs, and the transition to electric vehicles.
Source: First Squawk