Volkswagen Mulls Over Reducing 2,000 Jobs At Software Arm: Report
Portfolio Pulse from Shivani Kumaresan
Volkswagen AG (OTC: VWAGY) is reportedly planning a significant workforce reduction at its software division, Cariad, as part of a broader restructuring strategy. The company's board has approved the strategy, aiming to initiate the reductions from 2024. The CEO of Cariad, Peter Bosch, has spearheaded a wide-ranging overhaul for reorienting Cariad's direction since mid-year. The final blueprint for the revamp is still in the works.
October 27, 2023 | 4:49 pm
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Volkswagen's restructuring strategy, including workforce reduction at its software division, Cariad, may impact its operational efficiency and future growth. The plan is set to start from 2024.
The restructuring strategy, including workforce reduction, indicates potential operational changes and cost-saving measures. However, it may also lead to a temporary decrease in productivity and potential delays in projects, which could negatively impact the company's stock in the short term.
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