Tag: shake-up:
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Volkswagen’s Strategic Shake-Up: German Plant Closures, Layoffs, and Pay Cuts Amid Economic Shifts
Category AutomobilesVolkswagen (VW) is facing significant restructuring pressures, with plans to introduce plant closures, layoffs, and a 10% pay cut for workers across Germany. The decisions reflect broader challenges affecting both the automotive giant and Germany’s economic landscape. The shifts come in response to increased competition, primarily from Chinese automakers, and a strained economic environment in…