Why Volkswagen (VLKAY) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Volkswagen (VLKAY) are down -1.21% to $44.33 after it was reported that the automaker's 5 billion euro ($6.68 billion) cost-cutting plan suffered a major setback after labor leaders forced management to cut detailed proposals drawn up by consultants at McKinsey, sources told Reuters.

The cost-cutting target itself still stands, though, the sources added.

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VLKAY ChartVLKAY data by YCharts

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