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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.
WOLFSBURG, Germany (Reuters) -Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it ...
A report by German publication business monthly manager magazin, picked up by Reuters, suggested Volkswagen board members were now leaning away from closing large factories in Germany in favor of ...
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 ...
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 ...
The Wolfsburg Volkswagen Plant is the worldwide headquarters of the Volkswagen Group. [1] Situated in Wolfsburg, Germany, it is one of the largest manufacturing plants in the world, with an area of just under 6.5 million m 2 (70 million sq ft) and a building area of 1.6 million m 2 (17 million sq ft). [2] In 2015 the plant produced 815,000 cars.
Union officials said Volkswagen plans to shut factories in Germany for the first time. Germany's auto industry is under intense pressure — and now thousands of jobs will go at a key company in ...
The Volkswagen Act is a set of German (originally West German) federal laws enacted in 1960, regulating the privatization of Volkswagenwerk GmbH into the Volkswagen Group. [1] In order to maintain government control in the privately owned company, it stipulated that the votes in major shareholder meeting resolutions require 4/5th (80% ...