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Volkswagen Emissions Scandal

Volkswagen to shed 30,000 jobs to cut costs after emissions-cheating scandal

Volkswagen to shed 30,000 jobs to cut costs after emissions-cheating scandal

Volkswagen announced plans Friday to cut 30,000 jobs in a wide-ranging restructuring of its namesake brand as it tries to recover from a scandal over cars rigged to cheat on diesel emissions tests. 

The German company said the job cuts are part of a long-term plan to improve profitability and shift resources and investment to electric-powered vehicles and digital services. 

Company officials at a news conference at its headquarters in Wolfsburg said 23,000 of the job cuts will come in Germany and that the measures will save some 3.7 billion euros ($4 billion) a year from 2020. 

CEO Matthias Mueller said it was “the biggest reform package in the...

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