Reported about 1 month ago
Volkswagen is contemplating shutting down factories in Germany, marking the first such move in its 87-year history as it grapples with rising costs and the shift to electric vehicles. The company stated that it can no longer exclude the possibility of plant closures, eliciting strong reactions from unions who express deep concern over the decision. With significant job security programs potentially on the chopping block, the company's CEO noted the challenging economic climate and increasing competitiveness from new entrants into the market.
Source: YAHOO