According to Bloomberg, German carmaker Volkswagen plans to close factories in Germany after 87 years of its history.
According to the corporation’s general manager. Oliver BlumeGermany as a business location is falling further and further behind in terms of competitiveness. Management plans to lay off up to 110,000 employees in the coming years. In total, the company employs 673,000 people. The plant closures will be the first in 87 years.
The company currently has a deficit of 5 billion euros.
“The economic situation has worsened again. Germany is even further behind in terms of competitiveness.” – Blum explained.
