Page 5 - Thomas Schaefer News Today

Today's AM Drive is about Magna Steyr's involvement in the development of a platform for Scout Motors. Plus, Reuters reports Volkswagen is cutting 20 percent of its administrative staff costs.

VW CEO Thomas Schaefer said last week that the carmaker is “no longer competitive,” so the company is cutting deep.

Minister admits load shedding and logistics challenges undermine the ability to cost-effectively produce vehicles in SA.

South Africa is struggling to attract foreign investment. You can feel the randelas in your pocket shrinking, writes Mandy Wiener.

The target is part of Volkswagens push to cut costs at the VW brand by 10 billion euros (USD 10.8 billion) by 2026, having previously warned that high costs and low productivity were making its passenger cars uncompetitive.

Hinted at in November, Volkswagen has indicated that will embarking on a workforce reduction in order to return to profitability.

No layoffs, claims VW as it says it will save 20 percent on administrative staffing costs via partial and early retirements

Volkswagen said Wednesday it would cut its workforce over the coming years as the German auto giant seeks to boost its profitability and reboot a faltering shift to electric cars."Over the coming years, we will need to reduce our workforce in a socially responsible way," the group's human resources chief Gunnar Kilian said.

By Christina Amann and Christoph Steitz BERLIN/FRANKFURT (Reuters) -Volkswagen plans to slash administrative staff costs at its namesake brand by a fifth, ...

Volkswagen said Wednesday it would cut its workforce over the coming years as the German auto giant seeks to boost its profitability and reboot a