Volkswagen weighs up to 100,000 job cuts and four plant closures
German carmaker Volkswagen is weighing up to 100,000 job cuts as part of a sweeping overhaul. According to news reports, the company plans to halt production at four of its German plants.
German carmaker Volkswagen is reportedly weighing up to 100,000 job cuts as part of a sweeping overhaul. According to The Straits Times, the company plans to halt production at four of its plants in Germany.
Reports suggest the move is aimed at cutting costs and protecting competitiveness during the transition to electric vehicles. As one of Germany's major industrial employers, cuts at Volkswagen are reverberating across the sector.
Potential plant closures are a major worry for unions and workers. The company's final decision will be watched closely for what it means for the German economy and the direction of Europe's car industry.
Read next
Rocket Lab shares slide sharply over the past two weeks
Space company Rocket Lab's share price has fallen from just over US$100 to about US$80 in the past two weeks. The drop coincides with investor caution toward space and technology stocks.
India's airlines losses seen widening to Rs 38,000 crore, ICRA forecasts
Trump threatens 100% tariffs on Europe over digital services tax
Major beef exporters near China quota caps, clouding second-half trade
