Volkswagen reveals plans to cut 30,000 jobs worldwideNovember 18, 2016 - 14:54 AMT PanARMENIAN.Net - Volkswagen has announced plans to cut 30,000 jobs worldwide with about 23,000 of the losses borne in Germany, BBC News reports. VW, still dealing with the aftermath of the emissions-cheating scandal, aims to rejuvenate its core brand, and develop new electric and self-driving cars. VW says it will create 9,000 jobs as part of investments in new products. The cuts should bring annual savings of €3.7bn ($3.92bn) by 2020. VW and unions have been hammering out a plan to revive its fortunes since June. Volkswagen chief executive, Matthias Mueller, said it was "the biggest modernisation programme in the history of the group's core brand". "The VW brand needs a real shake-up and that is exactly what the future pact has turned out to be," he added. The car giant - which employs 610,000 people in 31 countries - wants to increase the brand's profit margin from 2% to 4% and to do this it will need to improve productivity at its German plants by 25%. It has 120,000 workers in Germany so the cuts represent a fifth of employees in its heartland. Volkswagen has pledged there will be no compulsory redundancies and the top staff representative in Germany, Bernd Osterloh, said the new models would be built there: "The next generation of electric vehicles will be made here in Germany, not abroad." Costly settlement Volkswagen has been battling a crisis caused by its attempts to dodge strict US emissions limits. It was revealed in the US last year that VW's diesel cars were fitted with software that "knew" when cars were being tested. The company has agreed to pay $15bn in a settlement with US authorities and owners of about 500,000 vehicles. Around 11 million cars worldwide have the software. The VW group comprises 12 brands from seven European countries: Volkswagen passenger cars, Audi, Seat, Skoda, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. |