Volkswagen Group's software subsidiary CARIAD plans to lay off 1,600 employees

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CARIAD, the software subsidiary of global auto giant Volkswagen Group, plans to lay off 1,600 employees by the end of the year, accounting for 27% of the total number of employees in the department. This is the largest organizational restructuring of Volkswagen Group in recent years. The layoffs will be carried out through a "buyout" plan, but the software development department is not affected for the time being.