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Volkswagen’s international passenger car CEO Thomas Schaefer caused a stir at the weekend by saying South Africa must get its political and infrastructural act together or risk losing major foreign automotive investments.
Volkswagen is looking to restructure costs with possible layoffs at the Germany automaker along with measures to improve efficiency and productivity.
BERLIN: German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.
Volkswagen Group—Europe's largest automotive group—comes across serious challenges as its main brand needs to cut costs on a massive scale.
Volkswagen's 10 billion euro savings programme will include staff reductions, managers told staff on Monday as brand chief Thomas Schaefer warned that high costs and low productivity were making its...