Business
Volkswagen and Oracle announce major job cuts
Synthesized from2 sources
Volkswagen and Oracle announce major job cuts
Volkswagen plans to cut up to 100,000 jobs globally, while Oracle has reduced its workforce by 21,000 over the past year.
- Volkswagen CEO Oliver Blume said the company is assessing cuts of up to 100,000 jobs worldwide, double its previous target of 50,000.
- Blume stated that Volkswagen's costs are 20% higher than rivals and that the company must reduce outgoings further.
- Oracle disclosed in its annual financial filing that its employee count fell by about 21,000 to 141,000 full-time workers as of May 31.
- Oracle said the reduction was driven by AI integration and resulted in restructuring costs of $1.8 billion.
Coverage
Read the original reportingThis brief was compiled from 2 outlets, 1 reporting in Arabic and 1 in English, over 486 hours of coverage. Each is listed below with the headline it led on, so you can compare them yourself.
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