Moody’s downgrades Volkswagen amid margin decline
Edited By WION Video Desk
Published: Mar 18, 2025, 05:25 IST | Updated: Mar 18, 2025, 05:25 IST
What was once the crown of European manufacturing is now under severe strain. European automakers, particularly Volkswagen, are facing significant headwinds. Audi, part of the Volkswagen Group, has announced plans to cut up to 7,500 jobs in Germany by 2029, primarily in administration and development roles. The move is part of a broader cost-cutting strategy, which now plans to eliminate nearly 48,000 positions across its brands.
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