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VW Identifies $2 Billion in Savings as Cost-Cut Push Takes Shape

  • Volkswagen's namesake brand plans to reduce variants, trims
  • Labor Chief Bernd Osterloh says management bonuses to be cut
Bloomberg business news

VW Identifies $2 Billion in Savings

Volkswagen AG has identified about 1.9 billion euros ($2 billion) in savings at its namesake car brand to help offset fines and recalls stemming from the manipulation of vehicle emissions.

The VW brand, the automaker’s largest unit, plans to reduce variants and trim options to reduce complexity and cost, top labor representative Bernd Osterloh said Friday in a briefing with journalists at Volkswagen’s headquarters in Wolfsburg, Germany. The automaker’s senior executives are expected to participate in the broader savings effort with lower bonuses.