Volkswagen terminates agreement with trade unions

German Volkswagen is terminating several agreements with trade unions on employment protection for employees at the car giant's factories in Germany.

Originally, the agreements were supposed to secure jobs until 2029, but now the guarantees will expire in the middle of next year.

The agreements are being terminated to "reduce costs in Germany to a competitive level", says HR chief Gunnar Kilian in a statement.

Last week, it became known that Volkswagen is considering closing factories in Germany to reduce costs.

Daniela Cavallo, employee representative on the board, says in a comment:

"We will put up strong resistance to this historic attack on our jobs".