Volkswagen plans 30,000 job cuts

Volkswagen has announced plans to cut 30,000 jobs to save money as it tries to recover from its diesel emissions scandal. At least two-thirds of the positions will go in its home market Germany. The cuts are expected to bring annual savings of €3.7 billion (AED 14.4 billion) by 2020. It was revealed in the US last year that Volkswagen’s 11 million diesel cars were fitted with software that cheated emissions tests. The automaker has agreed a $15 billion (AED 55 billion) settlement with US authorities and car owners.