Here's What's Next for Volkswagen After Announcing 30,000 Layoffs - TheStreet

Here's What's Next for Volkswagen After Announcing 30,000 Layoffs

Volkswagen is still reeling from its emissions cheating scandal and announced plans to cut 30,000 jobs over the next several years Friday.
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Volkswagen (VLKAY) is still reeling from its emissions scandal and announced plans on Friday to cut 30,000 jobs over the next several years. "You have to wonder whether or not this is quite as radical as the headlines suggest," said Michael Ingram, a market analyst with BGC Partners, based in London. "After all, we're talking about no compulsory redundancies at least until 2025." The layoffs amount to 5% of Volkswagen's workforce. Volkswagen shares moved slightly higher following the news. TheStreet's Scott Gamm reports from Wall Street.