Volkswagen plans to shut factories and lay off tens of thousands of workers | Money News
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 German firm employs about 300,000 people in its home country and operates 10 plants, but has said a major restructuring is needed.Ms Cavallo told workers at VW's biggest plant in Wolfsburg that the company was "absolutely serious about all this" and the proposals were not "sabre-rattling".
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Daniela Cavallo speaks to employees a...










