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VW hikes profit forecast

Volkswagen upped its 2008 profit forecast to more than $6.72 billion as it raises productivity and cutting jobs in some of its German plants.

VW also increased its 2008 earnings target slightly, forecasting that the pretax profir would exceed the 5.1 billion euro mark target. It also reaffirmed that the operating profit for 2008 would surpass 4.38 billion euros.

The German automaker is committing itself to further restructure the company. It is planning to reduce its workforce by 5000 jobs, bringing it down to about 80000.

This entry was posted on Friday, March 9th, 2007 at 7:52 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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