Volkswagen is one of the world’s largest car makers. A like the globe’s other big players, it once looked longingly toward Russia when the auto industry began a robust recovery about five years ago. But VW has gotten burned. The company will reduce shifts and lay off at least 150 workers at its Russian car plant to try to cut costs in a market downturn. The European auto industry has stumbled during the recovery from the financial crisis. The US market, by contrast, has been booming. Latin America has been iffy. China has weakened of late, but it’s still the …read more
Source: Business Insider
