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German auto giant Volkswagen plans 10% wage cuts
Volkswagen’s woes illustrate Germany’s creeping deindustrialisation
T he spectre of deindustrialisation has long haunted Germany. Russia’s full-scale invasion of Ukraine in 2022 caused energy prices to spiral. The economy of Germany’s biggest trading partner, China, has slowed.
Volkswagen May Close German Plants for First Time in Its History
The auto maker’s top employee representative told workers that management planned to shutter three German factories to cut costs amid slumping sales.
German auto giant Volkswagen plans 10% wage cuts as profits plunge
German carmaking giant Volkswagen (VW) on Wednesday confirmed plans to reduce wages during collective bargaining talks with trade union leaders, as the automaker's parent company reported a severe slump in third-quarter profits.
4d
on MSN
Volkswagen mulls closing factories in Germany for the first time and cutting thousands of jobs to reduce costs
Union boss tells workers that VW plans to shut three plants in Germany, as well as slash jobs and cut salaries in response to ...
4d
on MSN
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 ...
The Associated Press - Business News on MSN
2d
Volkswagen says cost cuts are urgently needed as its earnings decline sharply
Volkswagen says significant cost cuts are urgently needed as it reports a steep decline in third-quarter earnings and faces ...
3d
on MSN
Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race
Volkswagen is mulling the closure of factories in Germany for the first time to cut costs, while rivals BMW and Mercedes-Benz ...
3d
on MSN
Germany economy panic as Volkswagen sends 'urgent' warning amid 64% profits slump
Volkswagen is arguably Germany's most famous brand, and an enduring symbol of its post-war economic dominance.
The Associated Press - Business News on MSN
4d
Volkswagen’s employee council says the automaker plans to close at least 3 German plants
The head of Volkswagen's works council says the company has informed employee representatives that it wants to close at least ...
4d
Volkswagen to close factories in Germany
Germany’s auto industry is faltering in large part because China’s burgeoning EV sector has outcompeted German carmakers both ...
4d
Reactions to Volkswagen labour chief warning of mass layoffs, plant closures in Germany
Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining ...
Opinion
3d
on MSN
Opinion
Volkswagen Hits the Net-Zero Wall
The German company’s layoffs and pay cuts are a warning to America about Biden-Harris climate policies.
4d
Volkswagen to cut Germany footprint amid broader industry struggles
The German auto giant is overhauling its business to cut costs in the face of low European demand and competition with China.
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