Volkswagen to cut 50,000 staff by 2030
The German Volkswagen Group has announced its plan to eliminate approximately 50,000 jobs by 2030 as part of a comprehensive restructuring to adapt to the rapid changes in the global automobile market. This move comes in an effort to enhance competitiveness and achieve profit margins ranging from 8% to 10%, with expectations of becoming one of the most attractive car companies worldwide by the end of the decade. The CEO stated that the current situation is tense and warned of a deterioration that could continue until 2026.
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