Volkswagen's latest restructuring program is turning out to be expensive before the company has even decided what happens to some of its German factories. According to Der Spiegel, the group estimates that job cuts and production capacity adjustments will cost in the ballpark of $16 billion, which means just under $18.6 billion at current exchange rates.
Not surprising in the least, Volkswagen execs refused to comment on the alleged bill. The breakdown includes €10 billion associated with layoffs and €6 billion relating to the four German plants whose long-term production futures are currently under review in Wolfsburg.
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