Volkswagen cutting jobs in their US division

Volkswagen cutting jobs in their US division

World’s fourth largest automaker Volkswagen AG has announced that they are cutting jobs in their US operations.

The company said that they are planning to cut more than a quarter of its U.S. Staff.

VW also announced a five-point plan to restructure its operations in the US which is the world’s largest automotive market.

They are now going to develop models for the US market in addition to boosting the margins for their dealers.

VW also aims to enhance localization of car production to boost profitability.

Volkswagen added that they plan to keep 600 jobs in Detroit. It said in the official statement: “The company has already taken steps to reduce its staff through natural fluctuation and severance packages.”