VW's Plan to Reconquer America

After years of billion-dollar annual losses, Europe's biggest car company makes a last-ditch effort to be profitable in the U.S.

Ever since Ferdinand Piech took an 18.4% stake in Volkswagen through Porsche last October, financial analysts have been buzzing about the chances for faster restructuring at Europe's largest auto maker. On Feb. 10, Volkswagen finally issued the news that markets have been waiting for, announcing plans to cut up to 20,000 jobs and renegotiate labor contracts to help bring costs down.

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