Volkswagen to Lop 5,000 After Poor First Quarter
Deseret News (Salt Lake City) › March 10, 2004
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Summary
FRANKFURT, Germany -- German automaker Volkswagen warned Tuesday that sluggish auto markets would lead to "miserable" earnings in the current quarter and announced a cost-cutting program to eliminate 5,000 jobs.
The negative outlook upset investors, who sent the company's shares down 3.07 percent to close at 38.20 euros ($47.41) in Frankfurt.See the full content of this document
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Volkswagen to Lop 5,000 After Poor First Quarter
Volkswagen's earnings have been battered by intense price competition and a weaker dollar in the key North American market, as well as soft cons...
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