Top Post Dawg
- Nov 19, 2003
- Richmond, BC, Canada
- Mine: 2019 Golf R DSG, Wife's: 2015 Golf Comfortline TDI
Volkswagen and its labour unions agreed to cut 30,000 jobs at the core VW brand in exchange for a commitment to avoid forced redundancies in Germany until 2025, a compromise which leaves the car maker’s profitability still lagging rivals.
The turnaround plan announced on Friday will lead to €3.7-billion ($3.9-billion) in annual savings by 2020 and lift the Volkswagen (VW) brand’s operating margin to 4 per cent that year, from an expected 2 per cent in 2016.