Volkswagen plans to cut 15% of workforce and close four German plants, report says
German auto giant Volkswagen is reportedly planning to cut about 100,000 jobs and end production at four German plants over the coming years. The reductions amount to roughly 15% of its total workforce, CNBC reported. The carmaker is grappling with cost pressure and intense competition.
Volkswagen, Germany's largest carmaker, is reportedly planning to eliminate about 100,000 jobs over the coming years. According to CNBC, that figure represents roughly 15% of the company's total workforce.
The plan also envisages ending production at four German plants. The company is under pressure from high costs, the transition to electric vehicles and intensifying competition, particularly from Asian manufacturers.
Volkswagen's management is expected to face difficult negotiations with trade unions in the period ahead. Any plant closures could carry significant consequences for German industrial employment, long a pillar of the country's economy.
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