Volkswagen to name Porsche boss Matthias Mueller as CEO
Matthias Mueller, 62, head of Porsche, set to become Volkswagen chief executive as the company seeks a reset after a diesel emissions scandal. Supervisory board to dismiss U S operations head and top engineers at Audi and Porsche as it reshapes leadership, costs, and accountability amid potential penalties up to 18 billion dollars from U S regulators.
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Caterpillar to cut up to 10000 jobs as revenue forecast slashed
Caterpillar Inc warned it may reduce up to 10,000 positions through 2018 after cutting its 2015 revenue outlook to about 48.0 billion dollars. The firm also forecast a 5 percent revenue decline in 2016 to roughly 45.6 billion, with 2 billion in pretax restructuring costs and 1.5 billion annual savings target. The company has shed over 31,000 jobs since mid 2012 and had 114,233 employees at year end.
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