Volkswagen has decided not to close factories in Germany but plans to cut over 35,000 jobs by 2030. This decision is part of an agreement with the labor union IG Metall.
Previously in October, the company’s works council had announced the closure of three German factories, a 10% salary reduction for all staff, and potential layoffs. These announcements were based on internal communications with employees, while negotiations were still ongoing.
The German automotive industry has been struggling, and Volkswagen’s latest financial results showed lower profits and decreased car sales.
Source: NOS