Volkswagen Approves Plan to Cut Another 50,000 Jobs

By admin September 4, 2026 No comment

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Volkswagen’s board has approved plans to eliminate another 50,000 jobs by 2030 as part of the German automaker’s biggest restructuring in its nearly 90-year history. The latest cuts will bring the total number of jobs the group plans to reduce to around 100,000. The company, which owns brands including Audi, Porsche and Skoda, is also […]

German Union Warns of Major Resistance to Volkswagen Restructuring

By admin August 31, 2026 No comment

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Germany’s largest union, IG Metall, has warned of strong opposition if Volkswagen attempts to revise a restructuring agreement reached less than two years ago. Union leader Thorsten Groeger said workers across Volkswagen’s sites would resist any move to reopen the deal, as the automaker considers major changes including plant closures, business carve-outs and up to […]

Volkswagen’s Unique Ownership Structure Faces Fresh Scrutiny Amid Restructuring Plans

By admin June 27, 2026 No comment

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Volkswagen’s complex ownership and governance structure has come under renewed scrutiny as the German automaker prepares a major restructuring that could include plant closures and nearly 100,000 job cuts. Labour unions have vowed strong resistance, while the company’s unique legal framework gives workers and the German state of Lower Saxony significant

STMicro Sees Clearer 2026 Outlook as Restructuring Costs Persist

By admin January 29, 2026 No comment

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STMicroelectronics forecast first-quarter revenue slightly above market expectations, citing improving visibility and signs of recovery in its key end markets, but warned that restructuring costs will continue to weigh on results through 2026. The Franco-Italian chipmaker said it expects revenue of about $3.04 billion in the first quarter, ahead of analysts’ average

Citigroup plans 20,000 job cuts over two years

By admin January 13, 2024 No comment

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Citigroup plans to cut approximately 20,000 jobs, equivalent to about 10% of its global workforce, within the next two years as part of a broader restructuring initiative led by CEO Jane Fraser. This move is aimed at streamlining operations and reducing layers of bureaucracy within the bank. Fraser, who assumed leadership in 2021, envisions 2024 […]