VW to propose 100,000 job losses to board and says car plants could be put under foreign ownership to save jobs

cross-posted from : https://lemmy.zip/post/67657166

Volkswagen is trying to implement a comprehensive cost-cutting programme with up to 100,000 job losses, double the amount previously planned, by 2030 and the potential contraction or closure of several plants.

  • Pringles@sopuli.xyz
    1·
    22 days ago

    This still won’t be enough for them to survive without a pickup in sales, which are only set to decline further as any EU action on Chinese imports will be immediately retaliated by measures against EU OEM’s. The EU car industry is about to be completely massacred.

    I don’t like the German car execs, but the economical and political ramifications of not saving the European car industry will be enormous, so it makes a lot of sense to try to save it.