BREAKING: Volkswagen says it will shed 30,000 jobs, 23,000 of them in Germany, to cut costs and improve profitability.— The Associated Press (@AP) November 18, 2016
Volkswagen is set to cut 30,000 jobs in wake of its huge emissions scandal.
More on the job cuts
Volkswagen announced Friday the company will cut 30,000 jobs, the Associated Press reported.
Most of those cuts will come in Germany, where the brand is based.
After Volkswagen was found to be cheating on emissions tests last year, fines and compensation payments have added up to an estimated $19 billion.
The company says the job cuts are necessary to reduce costs.
VW confirmed it will cut 23,000 jobs in Germany, but will add 9,000 jobs in the future.
The 'diesel dupe'
Volkswagen admitted to cheating emission tests in the United States.
The Environmental Protection Agency found that many VW cars sold in North America had "defeat device" software in diesel engines that could detect when the cars were being tested, changing the performance accordingly to improve results.
The German car giant agreed to compensate U.S. dealers $1.2 billion.
WATCH | For the news you need, check out our 60 Second Circa.