Volkswagen is said to be planning significant job cuts and a 10% salary reduction for its employees. The company is considering closing or downsizing several plants in Germany.
The head of the works council, Daniela Cavallo, disclosed that management has proposed a wage freeze for 2025 and 2026, which could result in an overall pay decrease of around 18% for workers during this period. The automaker intends to shut down three factories and reduce the size of its remaining facilities in Germany, leading to substantial job losses.
The situation is developing, and Volkswagen is expected to provide further updates as it navigates these changes.