Report: Volkswagen to Hold Special Restructuring Meeting Friday

The Volkswagen Supervisory board is set to meet on Firday to discuss “wide-ranging restructuring,” sources say.

Reuters was tipped off about the meeting by two supervisory board members, who add that the meeting will deal with cutting costs in the wake of the emissions scandal.

According to Reuters Herbert Diess, head of the VW brand, wants to cut costs by 3.7 billion Euros through 2021, while Handelsblatt reports that for wider VW Group costs are to be cut by 8 billion Euros.

This goes some of the way to explaining why both Audi’s and Volkswagen’s motorsport operations have been shrunk.

[source: Automotive News]

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