VW to cut 50,000 jobs amid Trump tariffs and falling Chinese sales
Car group reports 54% drop in pre-tax profits as it says Iran war could affect demand for Audi and Porsche brands
Europe’s largest automaker, Volkswagen, is to shed 50,000 jobs by the end of the decade, as it faces falling sales in China and North America and punitive US tariffs imposed by Donald Trump.
The 10-brand group, whose luxury subsidiaries Porsche and Audi are also under pressure, said the jobs would go in Germany, affecting the entire group, as part of a restructuring drive in light of the darkening global business climate. Continue reading...
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