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News // Autos

Volkswagen To Shed Brazilian Workers

22 July 2003 , 11:58505
Due to weak sales in Brazil and other key export markets, Volkswagen, the German car producer, is forced to cut almost 4?000 jobs in Brazil, 16 percent of the total workforce.

The company expected, after five years of investment, to sell around 3 million units in Brazil. But today, it only sells 1.6 million.

The economic slowdown in Latin America?s largest economy has severely subdued consumer demand.

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