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RE: LeoThread 2024-10-28 03:27

Volkswagen will close factories and lay off thousands of workers

It last closed down a plant in 1988. Now Europe's biggest carmaker wants to close down three more

Volkswagen plans to close at least three plants in Germany and lay off thousands of workers, marking its first closure in decades as it looks to cut costs, according to the head of its works council.

#vw #automotive #europe #layoffs

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In addition to those closures, all additional Volkswagen plants in Germany will be downsized, Daniela Cavallo told employees on Monday in remarks reported by the Deutsche Presse-Agentur (DPA). Mass layoffs are being planned, with entire departments facing closure or relocation.

Volkswagen employs roughly 300,00 people in Germany, including tens of thousands spread across its headquarters and main plant in Wolfsburg. Europe’s biggest carmaker also operates another nine factories in Germany.

“All German VW plants are affected by these plans. None of them are safe,” Cavallo said during the event, according to the DPA.

Until now, Volkswagen has never closed a plant in its native country. The last time it closed any factory was in 1988, when it shut down its location in Pennsylvania’s Westmoreland County. In July, it weighed closing an Audi factory in Brussels, as demand for high-end electric cars sank.