Volkswagen cost-cutting unavoidable | The Manila Times

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BERLIN — Volkswagen’s planned cost-cutting was unavoidable in order to remedy “decades of structural problems” at the German carmaker, Chief Executive Officer Oliver Blume said in an interview published on Sunday.

“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.

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