Volkswagen Slashing Up To 7,000 Jobs to Boost R&D by $9 Billion

Volkswagen vlkpf is to cut up to 7,000 jobs by 2023 so that it can increasingly focus on electric vehicles and production automation. Handelsblatt reports the move — which will primarily hit administration workers in Germany — will free up EUR8 billion ($9 billion) in cash that can be redirected into research and development. “We […]