| Topic: |
Politics > Politics-USA |
| User: |
"Tuttles Almanac" |
| Date: |
10 Feb 2006 09:49:37 AM |
| Object: |
VW to Cut 20,000 Jobs in West Germany |
VW to cut 20,000 jobs in west Germany
http://msnbc.msn.com/id/11271387/
Volkswagen, Europe's largest carmaker, is to cut up to 20,000
jobs in Germany in the next three years as part of a wide-ranging
restructuring programme that came as it announced
better-than-expected annual profits.
The German group will raise its productivity and slash its chronic
overcapacity - both areas where it hugely lags its European and
Asian competitors - as well as trim its labour costs and outsource
some of its component operations as part of the plan. Almost one
fifth of its west German workforce of 103,000 could lose their
jobs, the company said but failed to go into any more detail on any
of the measures.
VW's restructuring follows similar attempts by General Motors
and Ford in the US but unlike its lossmaking rivals the German
group is profitable, even at its problematic core VW brand.
VW refused to go into further details of its restructuring saying it
depended on negotiations with unions.
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