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The deal includes "socially responsible" job cuts of over 35,000 German factory workers by 2030.
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.
Volkswagen has announced plans to close three German car factories, lay off thousands of German workers and cut salaries by 10%. ... VW workers in Germany are unionized, and the response to the ...
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 attention to that,” he said in a statement ...
Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last-gasp deal between Europe's top carmaker and unions on ...
Volkswagen AG (German: [ˈfɔlksˌvaːɡn̩] ⓘ), known internationally as the Volkswagen Group, is a German public multinational conglomerate manufacturer of passenger and commercial vehicles, motorcycles, engines and turbomachinery.
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% ...
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.