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World Business Report: First broadcast 2016/11/18 22:32 GMT: Volkswagen Cuts 30,000 Jobs

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First broadcast 2016/11/18 22:32 GMT

First broadcast 2016/11/18 22:32 GMT: Volkswagen Cuts 30,000 Jobs

Volkswagen Cuts 30,000 Jobs

BBC World Service - World Business Report, Volkswagen Cuts 30,000 Jobs

Volkswagen will axe 30,000 jobs to deal with the cost of the emissions cheating scandal.

The German car giant Volkswagen will axe 30,000 jobs, to make savings to deal with the cost of the emissions cheating scandal. We also analyse VW's new focus on electric cars.

The German automotive giant Volkswagen will axe 30,000 jobs, as part of plans to make savings to pay for the cost compensation stemming from the emissions cheating scandal. The axe will fall on 23,000 jobs in Germany in a move trade unions have agreed to, but the job losses will not mean forced layoffs. We hear from the company's chief executive, the head of the state of Lower Saxony, which has a big stake in VW and automotive industry expert Krish Bhaskar analyses Volkswagen's swerve to invest more in technology and electric cars. 

Police in Malaysia have arrested the head of a pro-democracy group in a widening crackdown on critics of the Prime Minister, Najib Razak, who want him to resign. The United States has accused the Malaysian leader of stealing money from the state development fund, 1MDB. He insists the $681m discovered in his personal bank account was a gift from the Saudi Royal Family, a claim supported by Saudi Arabia and the country's Attorney General has cleared him of any wrongdoing. The BBC's Rob Young reports from Kuala Lumpur, where he has been speaking to protestors and opposition politicians. 
The BBC's Business News team has had another busy week bringing you the latest on events, like the Japanese Prime Minister travelling to New York to meet President elect Donald Trump, or Facebook considering ways to prevent false news stories being posted on its social media site. We reflect on the weeks developments with Nicole Bullock, from the Financial Times in New York and Max Colchester from the Wall Street Journal in London. 

(Picture: Volkswagen workers at a factory in Brazil. Copyright Getty Images.)

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First broadcast 2016/11/18 22:32 GMT: Volkswagen Cuts 30,000 Jobs

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