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VW to Cut Jobs for Profitability, Recovery From 'Dieselgate' Scandal

Volkswagen and its labor unions have agreed on a plan involving 30,000 job cuts by 2020 aimed at boosting profitability and helping the carmaker recover from the so-called "dieselgate" emissions cheating scandal. The agreement, reached after months of difficult negotiations, will lead to annual savings of $3.9 billion. Two-thirds of the job cuts are expected at VW plants in Germany, and the others in North America and Brazil. Labor leaders agreed to the cuts in exchange for a...

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