Volkswagen’s plans to close plants in Germany and nearly double planned job cuts to around 100,000 have put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years.
Tag: Workforce
Volkswagen is considering shutting four German factories and ramping up job cuts to as many as 100,000, two people familiar with the matter said on Friday, in what could be the biggest overhaul in the carmaker’s history.
EV maker Lucid Group said on Monday it would cut about 18% of its U.S. workforce and announced COO Marc Winterhoff had left the company, marking its second major executive change in recent months as it tries to boost profitability amid growing competition.
BMW and staff representatives are preparing for talks after the German premium carmaker issued a profit warning this week and said it would accelerate efficiency measures, a spokesperson for its general works council said on Friday.
The Trump administration issued a sweeping demand to Mexico to raise the level of regional content in North American-built cars and trucks to 82% to qualify for preferential trade deal access, with 50% of that value produced in the United States, four people familiar with the U.S. negotiating stance said on Friday.