VW profits plunge and deep job cuts loom amid tough Chinese competition
Volkswagen is facing a significant financial downturn, reporting a sharp decline in profits and a reduction in its annual sales forecast. The company plans to implement a major cost-cutting program, including up to 100,000 job cuts, as it struggles with intense competition from Chinese manufacturers and a shift toward electric vehicles.
A technician applies the finishing touches to a VW logo. Volkswagen employs more than 650,000 people across all its brands. A technician applies the finishing touches to a VW logo. Volkswagen employs more than 650,000 people across all its brands. Volkswagen (VW) VW profits plunge and deep job cuts loom amid tough Chinese competition Carmaker, which is pushing through cost-cutting programme, expects sales to fall by up to 3% this year
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