The Guardian

Volkswagen to shut three factories and cut thousands of jobs, says union

Volkswagen to shut three factories and cut thousands of jobs, says union



German carmaker warns of stagnation in the European sector amid news of deeper-than-expected actionBusiness live – latest updatesGerman carmaker Volkswagen is planning to shut at least three factories in its home country, lay off thousands of workers and cut pay by 10%, according to the company’s union.The deeper-than-expected cuts come as the company faces weak sales and slow expansion in the electric vehicle (EV) sector amid tough competition from Chinese manufacturers. Continue reading…



Source link : https://www.theguardian.com/business/2024/oct/28/volkswagen-shut-three-factories-cut-thousands-jobs-union

Author : Deborah Cole in Berlin

Publish date : 2024-10-28 12:55:06

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