UK car sales hit eight-year high in August; Volkswagen approves another 50,000 job cuts – business live
Rolling coverage of the latest economic and financial news Investors will cheer Volkswagen’s supervisory board’s decision to back its sweeping restructuring plan, argues Deutsche Bank analysts. They told clients this morning: The unanimous approval of Volkswagen’s Zukunftsplan 2030 last night is, in our view, a fundamental breakthrough and a much-better-than-feared outcome. We expect the market…
UK car sales reached an eight-year high in August, according to recent data. Volkswagen has approved an additional 50,000 job cuts as part of its restructuring plan, according to Deutsche Bank analysts. The unanimous approval of Volkswagen's Zukunftsplan 2030 is seen as a significant breakthrough, according to the analysts. Investors have expressed positive expectations of a market reaction to the decision.
The plan aims to reduce costs, simplify the model lineup, and cut annual investment spend by €6 billion. While Volkswagen's long-term EBIT targets remain ambitious, the company has shown progress in recent years.
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- Volkswagen plans another 50,000 job cuts in biggest restructuring in 90 years timesofindia.indiatimes.com
