VW leaders summoned to emergency meeting

Volkswagen is holding an emergency meeting today to discuss cost-cutting measures following the emissions scandal and its wider shift to greener cars.

VW has recently raised its dieselgate provisions to €18.2bn but is still facing new claims which could force the company to set aside even more money for compensation.

Meanwhile, its strategic shift to electric cars and self-driving vehicles is also placing a huge financial strain on the company, which has announced it will have to reduce its workforce by at least 10,000 in the coming years – other reports say that number is going to be nearer 25,000.

Faced with so many issues, VW has scheduled this extra meeting of its works council ahead of a meeting of its supervisory board on 18 November.