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volkswagen faces potential factory closures and significant job cuts amid financial struggles

Volkswagen faces significant challenges, including plans to close up to three factories amid declining sales in key markets like China and the US. The Works Council is poised to resist management's proposed job cuts and pay reductions, citing the company's recent €22 billion dividend payouts to shareholders as a point of contention. As negotiations with labor unions begin, the company is at a critical juncture, with its future profitability uncertain.
CleanTechnica
Euro Volkswagen AG CHN DEU USA Ian Greer Daniela Cavallo Show more
Finance & Economy, News Article
21:47 29.10.2024
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