The head of Volkswagen's works council told employees the carmaker is 'absolutely serious about all this' and the proposals are not 'sabre-rattling' following weeks of negotiations with unions.
Volkswagen is planning to shut at least three factories in Germany and lay off tens of thousands of staff. Its remaining plants in Germany are also set to be downsized, according to the head of the company's works council Daniela Cavallo. Europe's biggest carmaker has spent weeks negotiating with unions over its plans to revamp its business and cut costs, which have spiralled thanks to labour and energy prices.
The carmaker is under severe pressure from rising costs, strong competition from Asia, weakening demand in Europe and China, and a slower-than-expected transition to electric vehicles. It said it would put forward proposals for how to cut labour costs on Wednesday, when workers and management meet for the second round of wage talks and the carmaker releases third-quarter results.
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