The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

Volkswagen is cutting jobs, closing factories. Why its old business model is breaking

News Snapshot:

New Delhi: German carmaker Volkswagen has found itself in a fix as the company grapples with multiple crises like slashing profit margins, sweeping global layoffs and the potential winding down of its factories. The automotive giant is undergoing the largest restructuring plan in its 89-year-old history. On Friday, the CEO of the second-largest automaker got a nod from the stakeholders for the overhaul in the company. However, he is pressured in Germany over job cuts and the firm’s stand of its on-ground strategy in the US.The company’s supervisory board needs to settle the matter of  Audi’s proposed US production plant—a…

Other China Tech Buzz: