Frankfurt, Germany, Dec 23, 2024 (AFP) - Volkswagen boss hails cost-cutting deal but shares fall

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2024-12-23

Volkswagen's chief executive welcomed a deal to slash jobs and reduce production capacity in Germany without the need to close factories, but the car giant's shares fell heavily on Monday. "The agreement is good news for Volkswagen," CEO Oliver Blume said in an interview with the Frankfurter Allgemeine daily. "We are reducing overcapacity at our German plants. This will enable us to continue manufacturing vehicles in Germany at competitive costs......

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