economy
Volkswagen plans to cut 15% of its workforce and close four German plants, report says
Auto giant Volkswagen is reportedly planning to cut 100,000 jobs and end production at four German plants over the coming years.
TL;DR
- Volkswagen reportedly plans to cut 100,000 jobs and end production at four German plants.
- This represents a roughly 15% reduction of its workforce and a significant overhaul.
- The move aims to counter competition from Chinese car brands.
- Planned investment would also be reduced by about 15%.
- The company spokesperson declined to comment on internal, confidential documents.
- Unions have pledged to resist the reported job cuts and plant closures.