Tesla wins again: Volkswagen may close German plants, ending a decades-old job security progra

Volkswagen has indeed announced that it might have to close plants in Germany as part of a cost-cutting initiative aimed at saving billions of euros. The company is considering shutting down one vehicle plant and one component factory, which has led to strong opposition from the works council.

Additionally, Volkswagen is ending its long-standing job security program, which has been in place since 1994, due to the challenging economic environment and increased competition, particularly from the shift to electric vehicles.

Sources:
finance.yahoo.com/news/vw-says-plant-closures-job-145828459.html

www.yahoo.com/news/vw-weighs-first-ever-germany-132426112.html

auto.economictimes.indiatimes.com/news/passenger-vehicle/volkswagen-warns-of-german-plant-closures-end-to-job-security-scheme/112998963

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