Volkswagen Layoffs: German Automaker VW To Slash Tens of Thousands of Jobs, Impose 10% Salary Cut As 3 Plants To Be Shut In Germany
Volkswagen reportedly plans to close three plants in Germany, potentially leading to job cuts and a 10 per cent salary cut for remaining employees.
Volkswagen, one of Germany's leading automaker, is reportedly planning for layoffs. According to a post of Disclose.tv on October 28, 2024, Volkswagen intends to close at least three of its plants in the country. The closure of the VW plants may lead to tens of thousands of job cuts. Additionally, the automaker plans a 10 per cent reduction in monthly salaries for all remaining employees in 2025 and 2026, alongside the removal of allowances and bonuses. Spirit Airlines Layoffs: Budget Carrier Plans To Lay Off Employees, Sell Planes To Reduce Costs and Raise Cash.
Volkswagen To Lay Off Tens of Thousands of Employees
MORE - In addition, Volkswagen seeks a 10% reduction in monthly pay for all remaining employees, two zero rounds in 2025 and 2026, and the end of allowances and bonuses.
— Disclose.tv (@disclosetv) October 28, 2024
(The above story first appeared on LatestLY on Oct 28, 2024 04:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
