Volkswagen Will Move to Herndon
Date: September 06, 2007 10:37AM
Sept. 6 (Bloomberg) -- Volkswagen AG, Europe's largest carmaker, will move its U.S. headquarters to Virginia from Michigan and eliminate 400 jobs after four consecutive years of losses in the country.
The company plans to cut 400 positions, move 400 people to a new headquarters outside Washington in Herndon, Virginia, and keep 600 people in Auburn Hills, Michigan, Andreas Meurer, a Volkswagen spokesman, said in a telephone interview today. The carmaker will invest $100 million in the Virginia office.