Volkswagen suspends ID.Golf development amid cost cuts and job losses
Briefing by News4U · First published
Volkswagen is suspending development work on the all-electric ID.Golf at its Wolfsburg headquarters as part of sweeping cost cuts, including plans to cut 100,000 jobs and close up to four German plants, after reporting its largest quarterly loss in more than a decade. CEO Thomas Schaefer said the company cannot afford the work now, and the Wolfsburg plant faces a €300m shortfall against its cost-cutting target. The works council said the pause would not delay the model's launch, but tensions with union IG Metall are rising, with strikes possible from January 1. [1] [2]
Sources
- Volkswagen suspends work on electric Golf
RTÉ Business · · Full text
- Volkswagen Pauses Work on ID.Golf Model to Preserve Cash Flow
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