SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

The Trade Union: Volkswagen Wants to Close Several Factories

Volkswagen is planning to close at least three factories in Germany, according to the car group's union.

» Updated: 28 October 2024, 13:31

» Published: 28 October 2024

The Trade Union: Volkswagen Wants to Close Several Factories
Photo: Michael Probst/AP/TT

Daniela Cavallo, chairman of the trade union, states in a speech outside Volkswagen's headquarters in Wolfsburg, Germany, that the car giant wants to close factories to reduce costs and thereby become more competitive.

The cutbacks planned by the company risk "tens of thousands of jobs" in Germany, according to Cavallo. The union also claims that the car manufacturer wants to push through wage cuts of 10 percent.

It was already known in September that the company is considering closing factories in Germany. Volkswagen does not want to comment on potential changes, but tells Bloomberg that the situation is "serious".

"We are not productive enough at our German facilities," says CEO Thomas Schäfer in a comment.

In September, Volkswagen lowered its forecast for the second time this year due to weak demand for passenger cars. The company will release its report for the third quarter on Wednesday, where it is expected to report decreased sales.

It's not just Volkswagen that's struggling right now. Companies like Mercedes-Benz and BMW are also struggling with declining sales, not least in China.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Now Black Week starts – here are five best tips
2 MIN READ

Now Black Week starts – here are five best tips

He still believes in the German Northvolt factory
2 MIN READ

He still believes in the German Northvolt factory

Chinese Cars from Spanish Factory
1 MIN READ

Chinese Cars from Spanish Factory

The Ski Holiday Becomes Increasingly Expensive – "Like a Luxury Trip"
2 MIN READ

The Ski Holiday Becomes Increasingly Expensive – "Like a Luxury Trip"

Nvidia CEO: Don't Close the Borders
1 MIN READ

Nvidia CEO: Don't Close the Borders

Pilot Strike – Finnair Cancels 300 Flights
1 MIN READ

Pilot Strike – Finnair Cancels 300 Flights

Billion-dollar amounts at stake in Northvolt's crisis
2 MIN READ

Billion-dollar amounts at stake in Northvolt's crisis

German industry leader warns of new energy crisis
1 MIN READ

German industry leader warns of new energy crisis

The new ISK tax is decided
3 MIN READ

The new ISK tax is decided

Amazon doubles investment in AI company
1 MIN READ

Amazon doubles investment in AI company

Trump nominates billionaire to finance minister
3 MIN READ

Trump nominates billionaire to finance minister

Cheerful on Wall Street – bitcoin nears dream limit
2 MIN READ

Cheerful on Wall Street – bitcoin nears dream limit

Northvolt to Apply for Swedish Reconstruction as Well
2 MIN READ

Northvolt to Apply for Swedish Reconstruction as Well

Billion Fines for Unreasonable Fees on Air Travel
1 MIN READ

Billion Fines for Unreasonable Fees on Air Travel

Bosch reduces workforce by 5,500
1 MIN READ

Bosch reduces workforce by 5,500

Northvolt's CEO sold shares for hundreds of millions
1 MIN READ

Northvolt's CEO sold shares for hundreds of millions

Clothing Chain Rises on the Stock Exchange After Sales Forecast
1 MIN READ

Clothing Chain Rises on the Stock Exchange After Sales Forecast

Seven disputed taxes that can save the planet
3 MIN READ

Seven disputed taxes that can save the planet

Visa facilitation to boost China's tourism
1 MIN READ

Visa facilitation to boost China's tourism

The Stockholm Stock Exchange closed the week on a bright note
2 MIN READ

The Stockholm Stock Exchange closed the week on a bright note