VW braces to meet 'significant' expenses

(ANSA) - Rome, October 6 - German car manufacturer Volkswagen will make "massive" cost savings in order to meet the expenses incurred by the emissions-rigging scandal involving diesel emgines, the group said Tuesday.
    VW announced plans to eliminate or postpone all superfulous investment after the new CEO Matthias Mueller said he expected "significant fines".
    The group is under investigation in the US for cheating on diesel emissions tests and is set to recall up to 11 million vehicles. "We will overcome the scandal only by travelling a painful road," Mueller said, however adding that the savings plan would not jeopardise the German group's position at the forefront of the global automotive industry. "The good news is that so far there has not been a negative impact on jobs," said Bernd Osterloh, Chairman of the General and Group Works Councils of Volkswagen AG.
    "This is true both for employees and for temporary workers," he added. "Further, there is the firm intention to do everything possible to safeguard employment," Osterloh said.