Volkswagen Plans Historic Closures and Major Layoffs in Germany
In a significant move amidst ongoing struggles in the auto industry, Volkswagen is set to close at least three of its factories in Germany, marking the first time in its history that it has made such a decision. The company plans to lay off thousands of workers and implement wage cuts of 10% as part of its cost-cutting efforts aimed at saving billions. Labour representatives have expressed concern over the potential mass layoffs and the impact on employees. The closures reflect a broader trend within the automotive sector, as manufacturers grapple with challenges, particularly in the transition to electric vehicles. As pressure mounts on the iconic brand, the future of its operations in Germany remains uncertain.
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