VW's Audi to cut one in ten jobs to fund shift to electric vehicles
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HAMBURG/MUNICH (Reuters) - Volkswagen's luxury car unit Audi on Tuesday said it would cut one in ten jobs, freeing up billions of euros to fund its shift towards electric vehicle production. Carmakers are struggling with an auto industry downturn, particularly in key market China, and the need to increase investment in electric vehicles as several countries move to eventually ban conventional combustion engines. Audi said it would cut up to 9,500 jobs, or 10.6% of its total staff by 2025,..