Volkswagen plans to close at least 3 German plants and cut thousands of jobs

Roula Khalaf, Editor of the FT, curates the Unlock the Editor’s Digest, featuring her favorite stories weekly. Volkswagen is planning to close at least three German plants, cut tens of thousands of jobs, and reduce pay by 10%, sparking a battle with unions. Facing pressure from competition, slowing sales, and the shift to electric vehicles, VW warns of the need for drastic measures, as talks with the works council continue amidst threats of strikes.

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