Volkswagen, Germany’s largest private employer, could cut over 15,000 jobs with plant closures—and there’s no plan B, Jefferies says
Jefferies analyst said that Volkswagen's unions "can only strike on pay, not plant closure or layoffs if the latter are not contractually protected.”
As Volkswagen weighs its first closure of a German auto plant, workers aren’t the only ones worried
Volkswagen is considering closing some factories in its home country for the first time in the German automaker’s 87-year history.
Volkswagen may book up to $4.4 billion in provisions on capacity cuts, Jefferies says
Volkswagen may book up to 4 billion euros ($4.4 billion) in provisions for planned capacity cuts as early as the fourth quarter, analysts at brokerage Jefferies said in a note after travelling with company executives in North America.
Volkswagen’s possible plant closures in Germany ignite debate, raising concerns over industrial future
Company's restructuring plan faces backlash as country grapples with competition, energy costs - Anadolu Ajansı
Volkswagen quits labor agreement, paving way for job cuts
The job security agreement between Volkswagen and the union, IG Metall, which represents workers in the automotive and other heavy industries, has existed since 1994. It had provided protection from layoffs through 2029, but the company would be able to sever it with three months' notice.
Will Volkswagen Close Plants In Germany Amidst Growing Challenges?
Volkswagen’s financial chief, Arno Antlitz, initially estimated the company had two to three years to address its mounting challenges.
Volkswagen proposes first-ever factory closure in Germany. Why it's a big deal?
The potential closure of Volkswagen factories in Germany is a significant issue due to the company’s historical role in the country. Volkswagen has been a symbol of German industrial success since World War II. The prospect of closing plants not only affects employees but also has broader implications for Germany’s automotive industry and economy.
VW Weighs Cutting 15,000 Staff on Plant Closures, Jefferies Says
Volkswagen AG could force through decisions on plant closures this year, paving the way for more than 15,000 job cuts, according to analysts at Jefferies.
Volkswagen May Cut 15,000 Jobs, Jefferies Says
Key Takeaways Volkswagen may be considering at least 15,000 job cuts as it struggles against tough competition.Jefferies analysts made that prediction after holding three days of talks with VW officials.
What Volkswagen's woes say about Germany's economic future
Job cuts and possible factory closures at Germany's largest carmaker are a symptom of a wider malaise in Europe's largest ...
Automotive News6h
Germany's 69% slump in August EV sales drags on Europe's auto market
Europe-wide, EV market share has shrunk to 14 percent in the region through August, down from just over 15 percent as ...
Stellantis Working Hard to Avoid Volkswagen Plant Closure Scenario, CEO Says
TURIN (Reuters) - Stellantis has already taken measures and is working hard to avoid the risk of plant closures, as recently ...
Institute for Energy Research7d
Volkswagen May Close Factories in Germany to Cut Costs and to Compete with China as the EV Transition Falters
Volkswagen, the leading automaker in Europe, is contemplating an unprecedented closure of its factories in Germany due to ...
New Atlas2d
The Volkswagen Bus is back, and more capable than ever
OK, the Volkswagen Transporter (aka Microbus, aka Bulli, aka Type 2, aka Kombi ...) didn't actually go anywhere, but the T6.1 ...
Hosted on MSN1d
'Doors may open unexpectedly:' Volkswagen recalls almost 100K ID.4 electric vehicles
Volkswagen is recalling almost 100,000 of its electric ID.4 SUVs after reporting problems with doors opening ...
‘There would be no Wolfsburg without Volkswagen’: Carmaker’s plans shake home town
As Germany’s largest private employer moves to break its job security pledge, city fears its identity will be lost ...
Why Volkswagen is taking on Germany’s mighty unions
Volkswagen, Germany’s largest carmaker, is staring down an unprecedented crisis. Whether it be dwindling demand for electric ...