UPDATE 1-VW launches cost-cuts in face of weak market

Newswire

(Adds details, share price, background) FRANKFURT, Feb 27 (Reuters) - German car maker Volkswagen said on Friday that it would cut costs and reduce investment after profits more than halved last year and sales of its latest Golf V hatchback got off to a weak start. "Volkswagen is responding to the ongoing uncertain outlook for the global car market with an extensive package of measures," Europe's biggest car maker said in a statement. The programme, named "ForMotion", was a approved at ...

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