Volkswagen is to slash thousands of jobs – cost cutting citing low productivity

<p>Germany’s Volkswagen is to cut thousands of jobs.</p><p>Via various reports, in brief:</p><ul><li>Volkswagen responding to high costs and low productivity</li><li> VW is understood to be drawing up plans for thousands of job cuts</li><li>Outgoings are to be cut by around €10bn over three years</li><li><span>The initial expectation was that cuts would be more weighted towards non-German jobs, but that is not expected to cut costs enough</span></li></ul><figure data-media-><img src="https://images.forexlive.com/images/vw%20job%20cuts_id_04ead788-c439-4d1a-bc3c-89569bbdc039_size900.jpeg" alt="volkswagen" width="929" height="562" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/vw%20job%20cuts_id_04ead788-c439-4d1a-bc3c-89569bbdc039_size900.jpeg" /></figure><p><br></p><p><br></p>

This article was written by Eamonn Sheridan at www.forexlive.com.