FRANKFURT (Reuters) - Volkswagen sees no chance of avoiding layoffs and plant closures in order to cut 4 billion euros ($4.2 billion) in costs, the brand's chief executive said in a newspaper ...

VW has not confirmed those plans but on Wednesday it asked its workers to take a 10% pay cut, arguing it was the only way that Europe's biggest carmaker could save jobs and remain competitive.

Apart from job cuts and plant closures, Volkswagen has also asked workers at the VW AG unit, which is at the heart of the current conflict, to take a 10% pay cut. Volkswagen sees no chance of avoiding ...

"The weak market demand in Europe and significantly lower earnings from China reveal decades of structural problems at VW," Blume told Sunday paper Bild am Sonntag. Sign up here. The head of ...

Volkswagen’s (VWAGY) planned cost-cutting program was unavoidable in order to remedy “decades of structural problems” at the German carmaker, CEO Oliver Blume said in an interview published on Sunday, ...