Volkswagen to cut 30,000 jobs
Car manufacturer Volkswagen (VW) has announced it will cut 30,000 jobs over the next five years to make savings after the diesel emissions scandal.
The car manufacturer will cut 23,000 from its workforce at the biggest VW unit in Germany with the remaining job cuts being mostly made in North and South America.
The company said the cuts are part of a plan to boost profitability and fund a shift to electric and self-driving cars, seeking to make €3.7bln in annual savings by 2021.
VW says it will create 9,000 jobs as part of investments in new products.
The company has been working towards overcoming the diesel emissions scandal, after it was found to be attempting to dodge US emissions limits said to have affected 11 million cars.