German carmaker warns of stagnation in the European sector amid news of deeper-than-expected action
Daniela Cavallo, chair of the General and Group Works Council at Volkswagen, speaks to workers in Wolfsburg on Monday morning.Daniela Cavallo, chair of the General and Group Works Council at Volkswagen, speaks to workers in Wolfsburg on Monday morning.German 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.
Volkswagen said in a statement on Monday that its management had been in talks with labour representatives since the middle of 2023 about how to proceed, and had made clear over the summer that the “worsening economic situation required a fundamental restructuring”. Gunnar Kilian, head of human resources on the management board, said: “The fact is, the situation is serious and the responsibility of the negotiating partners is enormous.” He confirmed unspecified factory closures and painted a dire picture of the company’s condition.
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