Volkswagen AG Unsponsored ADR (VWAGY)
Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says
Volkswagen is considering wide spread pay cuts and layoffs as well as closures or size reductions of its plants in Germany, the company's works council said Monday.
Volkswagen plans major layoffs, to shut at least three German plants, works council head says
Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and permanently shrink its remaining plants in Europe's biggest economy as the continent's top carmaker is plotting a deeper-than-expected overhaul, the works council head said on Monday.
Volkswagen weighs wage cuts, bonus reductions in push to save 4 billion euros - Handelsblatt
Volkswagen is exploring a series of cost-cutting measures for its core brand, including a 10% wage cut and a two-year wage freeze, as it seeks to save 4 billion euros, Handelsblatt newspaper reported on Sunday, citing company insiders.
Volkswagen has still not presented future plan for brand, says works council boss
Volkswagen has so far not presented a plan for how to make its namesake brand more competitive, the head of the group's works council said in a handout to staff, adding management remained solely focused on labour costs.
VW's Scout Motors unit will offer EV SUVs, trucks with gas engine option
Volkswagen's Scout Motors unit on Thursday unveiled its concept electric SUV and truck and said it will offer extended-range versions that include a small gasoline engine.
Volkswagen's Scout Motors reveals first EVs as it shifts to include plug-in hybrids
Volkswagen's Scout Motors revealed its first two vehicles Thursday: A Traveler SUV and Terra pickup truck, scheduled to arrive in 2027. Scout, a former American vehicle brand from 1961 to 1980, was expected to exclusively offer EVs in a bid for the German automaker to expand its presence in the U.S.
Volkswagen finance wing fined £5.4mln over customer treatment
Volkswagen Group (XETRA:VOW) has been fined by Britain's financial watchdog over its treatment of customers in financial difficulty. The Financial Conduct Authority (FCA) said on Monday that Volkswagen Financial Services (UK) Ltd would have to pay £5.4 million over unfair treatment of such customers.
UK watchdog fines Volkswagen unit for unfair customer treatment
UK's financial regulator on Monday said it will fine the British financial services unit of automaker Volkswagen AG 5.4 million pounds ($7 million) for unfair treatment of customers in financial difficulty between 2017 and 2023.
China approves BNP Paribas, Volkswagen joint venture, Prudential insurance unit
China has approved two more insurance units to be set up by BNP Paribas and Prudential Financial in a move to further open up the local insurance market to foreign companies.
Second round of wage talks at Volkswagen to start on Oct. 30
The second round of collective bargaining negotiations between Volkswagen and the IG Metall union will take place on October 30, the two sides said on Tuesday.
German states vow to work together to save Volkswagen sites
The four German states with a Volkswagen presence want to work together to ensure that the struggling carmaker does not shut any of its plants, the states' economy ministries said in a joint position paper seen by Reuters on Monday.
Volkswagen Car Deliveries Fall as Industry Challenges Mount
Volkswagen delivered fewer cars in the third quarter as the automaker navigates an increasingly challenging market hit by a price war in China and high domestic production costs.
