Volkswagen Could Close 3 Plants in Germany to Cut Costs

Published On Oct 28, 2024, 12:56 PM

Volkswagen plans to shut down at least three factories in Germany and lay off tens of thousands of workers for the first time in its 87-year history. This decision, attributed to slumping sales and stiff competition from Chinese automakers, signifies a significant restructuring effort. The closures are expected to impact the German economy, as Volkswagen is the largest employer in the country, and local economies depend heavily on its operations. Employee representative Daniela Cavallo indicated that the company is looking to cut production and workforce at remaining plants, which could undermine economic stability in regions reliant on Volkswagen jobs.