Volkswagen: Earnings Halved – Group Reacts with Massive job Cuts and a Return to Combustion Engines!
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The Volkswagen Group is facing the most significant disruption since the diesel issue and is reporting a dramatic plunge in profitability for the past fiscal year. Europe's leading automobile manufacturer is currently suffering from a mix of geopolitical upheavals, restrictive trade policies in North America, and a strategic miscalculation at its prestigious subsidiary Porsche. The rapid transformation to electric mobility has stalled, forcing the leadership in Wolfsburg to take drastic countermeasures on the cost side. Management is responding...
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