Volkswagen Plans to Cut 100,000 Jobs and Close Plants
Volkswagen plans to cut 100,000 jobs in Germany. The car company also plans to close four German plants.
This would double the job cuts Volkswagen announced before. Reports say Chinese car makers are pushing Volkswagen to cut costs. The four plants at risk are in Zwickau, Emden, Hanover and Neckarsulm.
Klear Note — Volkswagen is Europe's largest car maker. Chinese car companies make cheaper electric cars, pushing global automakers to cut costs.
Key Terms 1
- Volkswagen Large German car company that makes cars sold worldwide