Volkswagen Considers Wage Cuts as It Struggles To Determine Its Future Strategy
Europe’s biggest automaker, Volkswagen, continues weighing various cost–saving measures as it struggles to determine its next move. Potential cost–reducing measures the German automaker is considering are a two–year wage freeze and a 10 percent wage cut. Like the rest of Europe, the once mighty German automaker currently finds itself under intense pressure to cut production...
Historic moment for Volkswagen: Automaker plans to close ‘at least’ 3 German plants and cut thousands of jobs
Volkswagen plans to close at least three factories in Germany, lay off tens of thousands of staff and downsize remaining plants in the country, the company’s employee group said Monday.
Volkswagen to Close Three German Plants, Cut Pay Amid Financial Struggles
Volkswagen AG is planning to shut down at least three factories in Germany, lay off thousands of workers, and implement a 10% pay cut as part of a sweeping overhaul aimed at addressing mounting financial pressures. The automaker is grappling with weak sales, increased competition from Chinese electric vehicle manufacturers, and rising costs for energy, materials, and labor.