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Audi plans to eliminate one layer of management or about 10 percent of the division's executive positions in a cost cutting drive, the unit's CEO told German newspaper Handelsblatt.

"One thing is clear, our cost base is too high," Audi CEO Bram Schot was quoted as saying.

He reaffirmed a target for a total of 15 billion euros ($17 billion) in cost savings through 2022.



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Audi Slashing 10% Of Executive Workforce To Cut Costs

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