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Volkswagen has announced plans to close three German car factories, lay off thousands of German workers and cut salaries by 10%.
The deal includes "socially responsible" job cuts of over 35,000 German factory workers by 2030. VW's New Union Deal Prevents German Factories from Closing Skip to main content
Volkswagen plans to close at least three factories in Germany, lay off tens of thousands of staff and downsize remaining plants in the country, the company’s employee group said Monday.
Volkswagen has 10 assembly and parts plants in Germany, where 120,000 of its 684,000 workers worldwide are based. As Europe’s largest carmaker, the company is a symbol of the country’s consumer prosperity and economic growth after World War II. It has never closed a German factory before.
Union boss tells workers that VW plans to shut three plants in Germany, as well as slash jobs and cut salaries in response to rising financial pressure.
Volkswagen is weighing whether to close factories in Germany for the first time in its 87-year history as it moves to deepen cost cuts amid rising competition from China’s electric vehicle makers.
The German Volkswagen Group is the largest automaker in the world as of 2015. [1] As of 2019 [ref] , it has 136 production plants, and employs around 670,000 people around the world who produce a daily output of over 26,600 motor vehicles and related major components, for sale in over 150 countries.
Volkswagen has said it may need to close plants in Germany for the first time in its 87-year history. In October, it also said employee pay would need to be cut by 10% to make the company more ...