Companies / Brazil
Strong Real Forces VW Cutbacks
May 2006 | Company Finance AlertAs the Brazilian real continues to gain strength, having appreciated by 71% against the US dollar over the past three years, the country's major exporters are feeling the pinch. German carmaker Volkswagen, which exports around 42% of its Brazilian output, has revealed that it may have to axe 25% of its local workforce to offset a lack of competitiveness on the export
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