this post was submitted on 15 Dec 2023
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Automotive Industry

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VW's Software Slashes 20%: Cost Axe Falls at Cariad, Buyouts on Horizon (www.investing.com)
submitted 10 months ago by [email protected] to c/[email protected]
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Volkswagen (ETR:VOWG_p) software division, Cariad, has reached a significant agreement to reduce its internal development costs by 20% annually until 2028, in an effort to avert compulsory layoffs. This decision comes as part of a major restructuring initiative led by CEO Oliver Blume. The plan includes offering voluntary buyouts if the cost reduction targets are not met, though a specific timeline for these buyouts has not yet been announced.

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