Reported 30 days ago
Volkswagen is planning significant layoffs affecting tens of thousands of staff and the closure of at least three factories in Germany as the company undergoes a major restructuring to cut costs amid high energy prices, labor costs, and increased competition. Union representatives have expressed serious concerns, and workers have protested against the proposed cuts, threatening strikes if management does not change course. The situation poses challenges for the German government, which seeks to support the economy facing a potential second year of contraction.
Source: YAHOO