finance
Volkswagen Plans Up to 100,000 Job Cuts and Four German Plant Closures
Volkswagen announced plans to cut up to 100,000 positions worldwide and close four plants in Germany. The reductions target roughly one-sixth of its 625,000-person global workforce.
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Volkswagen plans to cut up to 100,000 jobs worldwide and close four German plants as part of a cost-cutting effort. The company said the measures aim to address competition from Chinese electric-vehicle makers and improve profitability. The reductions would affect about one in six of its 625,000 employees globally.
Unions stated they intend to oppose the cuts.
The company has not released a timeline for the reductions or identified the specific plants involved.
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