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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 company scrapped a 30-year-old labor agreement in September, which opened the way for layoffs, while it has also proposed closing factories in Germany for the first time in its 87-year history.
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 ...
There will be no plant closings with us.” The governor of Germany's Lower Saxony region, Stephan Weil, who sits on the company's board of directors, agreed the company needed to take action but called on Volkswagen to avoid plant closings by relying on alternative ways to reduce costs: “The state government will pay particularly close ...
In October 2024, Volkswagen plans to close at least three plants in Germany and cut jobs, facing challenges from delayed EV investments and a drop in Chinese sales ...
German automotive giant Volkswagen is bracing for a showdown with trade unions shortly after it said it cannot rule out shutting factories in its home country for the first time in its nearly 90 ...
1954: Volkswagen assembly commenced by Martin and King Pty Ltd, Clayton. [43] 1957: Factory purchased by newly formed Volkswagen (Australasia) Pty Ltd, which is 51% owned by Volkswagen Germany. [44] 1959: An adjoining property is purchased to be the new VW administration headquarters, central parts warehouse and engine assembly shop.
Volkswagen (VW; German pronunciation: [ˈfɔlksˌvaːɡn̩] ⓘ) [Note 1] is a German automobile manufacturer based in Wolfsburg, Lower Saxony, Germany.Established in 1937 by The German Labour Front, it was revitalized into the global brand it is today after World War II by British Army officer Ivan Hirst.