[ad_1]
Wolfsburg / London. Volkswagen's flagship brand continues to be on top of plans for its ongoing savings program in terms of job cuts. Up to now, there are more than 5,600 net deletions, the company said at an investor event in London.
This represents about 1,200 more jobs than in the "future pact" called "austerity package" currently provided. The CEO, Herbert Diess, had already started the program as the VW brand manager to make the low yielding main brand more profitable. The "Pact" was initially very controversial between the management and the company committee.
By the end of 2018, annual cost savings are expected to reach 2.2 billion euros. By 2020, the costs in Germany should have fallen as expected then by 3 billion euros.
Among other things, because of the problems related to the introduction of the new exhaust and consumption tests in Europe, VW will badume in the current activity only to realize a special effects-adjusted profit margin at the bottom. target of 4 to 5%. The value indicates the remaining share of sales in the form of earnings before interest, taxes and special costs, for example to cope with the diesel crisis.
In the third quarter, the WLTP procedure had a significant impact on the results. However, sales should continue to increase by 10% this year. The return targets for 2020 and 2025 remain.
[ad_2]
Source link
