Volkswagen is laying off 100,000 workers because agreements are optional
Remember when German carmaking was a promise of ultimate job security? Well, VW just decided to tear up the script and slash 100,000 jobs.
German engineering efficiency has officially taken a turn into HR policy. Volkswagen Group is planning the biggest shakeup in its 89-year history, aiming to cut up to 100,000 jobs and shutter four major German factories.
CEO Oliver Blume previously agreed with unions not to close any plants until 2030. That promise lasted right up until profits dropped by 44%. Now the chopping block includes facilities in Hannover, Zwickau, Emden, and even an Audi plant in Neckarsulm.
On top of axing 15% of its global workforce, VW wants to trim investments by 15% and spin off its core brand into a separate business. IG Metall union leaders are threatening total resistance, but leadership seems far more frightened by financial losses than by union strikes.
The famous "Das Auto" tagline lands a little differently when tens of thousands of factory workers get handed their final paycheck.
Source: Reuters
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