Environmental security

Volkswagen Sued in Germany Over Emissions Scandal

The case, filed on behalf of 278 institutional investors around the world, alleges that Volkswagen did not provide public information about the emissions scandal on time. Apart from this case, the automaker already has seventy cases pending in Braunschweig. Volkswagen is also facing many lawsuits in the U.S. as well as in other countries.

Earlier this month, Volkswagen announced that it intends to cut 3,000 office jobs in Germany by the end of 2017. The automaker is aiming at job reduction in order to offset the costs incurred due to the emissions test-rigging scandal. Volkswagen will also reduce investments by 1 billion euros ($1.1 billion) in 2016 compared to last year. The automaker further plans to discontinue unprofitable models in order to lower costs.