Volkswagen Layoffs Job Cut: fires 16500 employees: Finance Trading Times

Volkswagen Layoffs Job Cut: fires 16500 employees

The news is not good for the already the employees of Volkswagen.The automobile giant has declared that it is going to cut 16,500 jobs. The recession is taking a toll on all sectors and the auto-mobile sector is the worst hit. The latest additon to the list of companies going for layoffs is the Volkswagen. Volkswagen Layoffs

How many employees may be fired in the Volkswagen layoffs?
There could be around 16500 layoffs by the Volkswagen organization.

Any plant or factories closed by Volkswagen
Yes. Five factories have been closed by Volkswagen in Germany recently. There is a cut in production as well an delivereies of vehicles have gone down by 21 percent.

What is the total no. of employees of Volkswagen?
Total No. of employees of Volkswagen is around 92,000 as of now in Germany alone.

Which locations will be affected by the Volkswagen Job Cuts?
Mostly it will be the German locations which will be affected.

Which business segments of Volkswagen will be affected in the layoffs
Mainly the Temporary staff will be laid off. Seems like the permanent employees need not worry at this moment, as per Associated Press.

When will the Volkswagen layoffs happen?
THough there are no confirm dates about when the layoffs will be made, but it is learnt that they will be done as soon as possible.

How much savings can be made by the company from the layoffs?
No information about that.

What is the primary reasons for Volkswagen layoffs?
Major reason is for cutting costs in the face of a slumping economy and higher credit losses.

Any other news about Volkswagen layoffs
As per The Bloomber, Production is being cut after Volkswagen’s group vehicle deliveries plunged 21 percent in January, even with a line-up of models such as the Golf, Polo and Fox that is regarded as well- suited to customer requirements for smaller, less-costly and more fuel-efficient cars.
German car sales will probably drop 6.5 percent to 2.9 million vehicles this year, the lowest since reunification in 1990, according to Germany’s VDA automakers’ lobby.
   Let's hope that alternative jobs are available to the affected employees of Volkswagen Layoffs Job Cut
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