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Business Matters: Car Maker VW to cut Thousands of Jobs

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VW IMAGE cropped.jpg

19/11/2016 GMT

Car Maker VW to cut Thousands of Jobs

BBC World Service - Business Matters, Car Maker VW to cut Thousands of Jobs

The car maker is to cut jobs to invest in electric-powered and self-driving vehicles

Car maker VW plans to cut jobs in order to invest in electric-powered and self-driving vehicles.

The German car maker Volkswagen says it will cut 30,000 jobs around the world, following last year's emissions-cheating scandal. VW says the plan will save nearly $4bn a year by 2020. Chief executive Matthias Mueller described the move as the biggest modernisation programme in the company's history and would prepare it for the future.

Buckingham Palace is to undergo a £369m renovation over the next 10 years. Lead pipes, boilers and wiring will be replaced to prevent potential fire and water damage. The Queen will stay in the palace during the work, which will begin in April. The BBC's Sarah Campbell reports.

Susannah Streeter speaks to  Canada's finance minister Bill Morneau about Nafta (North American Free Trade Agreement), and how the Trump Presidency is already having an effect on it.

Susannah is joined by ABC Journalist Elizabeth Jackson from Sydney for comment throughout the programme.

(Photo: VW logo. Credit: Justin Sullivan/Getty Images)

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