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Skoda 'to axe 6,000 jobs amid expensive roll out of electric vehicles'

Around 6,000 people could lose their jobs as Czech car making giant Skoda makes drastic cuts to keep up with an expensive electric vehicle rollout
Skoda, the Czech car manufacturer, has announced plans to cut approximately 6,000 jobs as part of a cost-saving initiative due to the expensive transition to electric vehicle production. This decision comes in response to the broader automotive industry's shift towards electrification, which involves significant investments in new technology, infrastructure, and compliance with increasingly stringent emissions regulations. The job cuts, which represent about 3% of Skoda's global workforce, are aimed at ensuring the company's competitiveness and financial stability during this transformative period. Skoda's strategy includes not only reducing its workforce but also streamlining operations and enhancing efficiency across its production lines to manage the high costs associated with electric vehicle development and manufacturing.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/autos/news/skoda-to-axe-6-000-jobs-amid-expensive-roll-out-of-electric-vehicles/ar-AA1A4a9N ]