Volkswagen (VW), Germany, Europe, Automotive industry, Business, Job losses, Electric, hybrid and low-emission cars, Manufacturing sector Business | The Guardian
German carmaker warns of stagnation in the European sector amid news of deeper-than-expected actionBusiness live – latest updatesThe German carmaker Volkswagen is planning to shut at least three factories in its home country, lay off thousands of workers and cut pay by 10%, according to the company’s union.The deeper-than-expected cuts come as the company faces weak sales and slow expansion in the electric vehicle (EV) sector amid tough competition from Chinese manufacturers. Continue reading…
German carmaker warns of stagnation in the European sector amid news of deeper-than-expected action
Business live – latest updates
The German carmaker Volkswagen is planning to shut at least three factories in its home country, lay off thousands of workers and cut pay by 10%, according to the company’s union.
The deeper-than-expected cuts come as the company faces weak sales and slow expansion in the electric vehicle (EV) sector amid tough competition from Chinese manufacturers.
