Volkswagen is contemplating the closure of at least three manufacturing facilities in Germany, along with downsizing the others in the region, axing tens of thousands of jobs and implementing a 10% salary reduction, as part of a significant cost-reduction strategy, Volkswagen Group (VW) Works Council Daniela Cavallo said during an event in Wolfsburg on Monday.
Many employees are anticipating strikes due to the expected job cuts. According to sources cited by the Handelsblatt financial daily, the carmaker's CEO Oliver Blume aims to achieve approximately €4 billion in cost savings for the brand. If implemented, these factory closures would be the first in Germany in Volkswagen's 87-year history.
