VW's Scania planning 'major' workforce cuts

Monday, 01. June 2020 11:15

Volkswagen AG's Scania announced on Monday it is planning to reduce its global headcount significantly amid the crisis caused by coronavirusp pandemic.

Approximately 5,000 positions will likely be cut, including 1,000 white-collar positions, the Swedish automker stated.

"Our assessment is that it will take long before market demand reaches pre-crisis levels and we therefore need to adapt the organisation to the new situation already this year," CEO Henrik Henriksson said in the press release.

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Breaking the News / MD