Audi looking to cut costs by 20 mln euros a year

Newswire

FRANKFURT, Nov 20 (Reuters) - Volkswagen AG 's luxury unit Audi plans to cut labour costs by 20 million euros ($26.05 million) a year, the personnel director and executive board member of Audi told Germany's Automobilwoche magazine. In a report that will be published on Monday, Horst Nuemann told the magazine that despite cost cuts, no job cuts are planned. Audi and its works council are negotiating an operating agreement that expires at the end of this year, the report said, adding Audi ...

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