Volkswagen, Germany’s largest employer worldwide, may be on the verge of making huge cuts. It follows recent reports from German automakers that show signs of trouble caused by slumping sales. Mercedes-Benz and BMW have lowered their outlook following lower than expected demand.
VW denied a recent report that it was planning to lay off up to 30,000 employees – a quarter of its German workforce. But the company says it has to reduce its costs somehow. German Economy Minister Robert Habeck says he wants to help the auto giant get through this rough patch without site closures, but Volkswagen is ultimately responsible for its own structure and viability.
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