Volkswagen

Volkswagen Plans Major Job Cuts and Factory Closures In Germany Amid Overhaul

Volkswagen has announced plans to cut thousands of jobs and close at least three factories in Germany. This decision, reported by Reuters, comes as the automaker grapples with increasing pressure to reduce costs and adapt to changing market conditions. Daniela Cavallo, head of Volkswagen’s works council, conveyed a sense of...

Horizon Robotics Targets $696 mn Hong Kong IPO

Chinese autonomous driving firm Horizon Robotics is aiming to raise up to $696 million in a Hong Kong initial public offering, as the city's listings market shows signs of renewed activity after a nearly two-year slump. The company will sell 1.36 billion shares in a price range of HK $3.73...

Will Volkswagen Close Plants In Germany Amidst Growing Challenges?

Volkswagen’s financial chief, Arno Antlitz, initially estimated the company had two to three years to address its mounting challenges. This week, Antlitz accelerated the timeline by a year, a move that has rattled the global automotive industry. For the first time, he suggested that Volkswagen might need to consider closing...

Volkswagen Faces Worker Uproar Over €10 Billion Cost-Cutting Plan

Volkswagen's management faced intense criticism from workers on Wednesday as they unveiled a €10 billion cost-cutting plan, which includes factory closures and significant reductions. The announcement has caused a rift between the company and its employees, with many of the 16,000 workers gathered at the Wolfsburg headquarters expressing their anger...

Volkswagen Faces Potential German Plant Closures and Ends Job Security Program

Volkswagen (VOWG_p.DE) has announced that it may be forced to shut down plants in Germany as part of its broader strategy to achieve significant cost savings. The car manufacturer is looking to cut several billion euros from its budget at its flagship brand amid ongoing financial pressures. According to Volkswagen,...