Volkswagen and union agree to cut over 35,000 jobs by 2030 in Germany

From Nasdaq: 2024-12-20 22:09:55

Volkswagen Group and its union have agreed to reduce the workforce by over 35,000 in German sites by 2030. The agreement includes a job security plan until 2030 with no significant impact on the 2024 financial year outlook. The company plans to reduce labor costs by 1.5 billion euros annually and cut capacity by 734,000 units. Production of Golf models will move to Mexico, and the Emden plant will continue to produce specific models. The T-Roc Cabrio will be made in Osnabrück until mid-2027. Zwickau will focus on Audi models, and the Dresden plant will close in 2025. Hanover plant will produce ID.Buzz and Multivan.



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