The German company Volkswagen is considering closing its factories in the country and abandoning its promise not to reduce the number of employees until 2030.
Oku.Az The Financial Times (FT) writes about this, referring to the production management of the car giant.
The company’s CEO, Thomas Schaefer, has admitted that the cost-cutting programme launched last year is falling short of its target by several billion euros. As a result, Volkswagen is suffering losses.
“The board is now calling into question VW’s German factories, its internal collective wage agreements and its programme to save jobs until the end of 2029,” the Financial Times report quotes.
Under German law, works councils are elected to protect the interests of employees of large companies and to participate in the work of their supervisory boards.
Volkswagen’s common shares rose 3.1% and its preferred shares rose 2.2% during trading on Monday.
