Volkswagen to close factories, cut wages as auto crisis deepens

Volkswagen to close factories, cut wages as auto crisis deepens

Volkswagen faces an unprecedented crisis
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Volkswagen faces an unprecedented crisis, planning factory closures, job cuts, and wage reductions to stabilize operations. Europe's largest automaker proposes a 10% wage cut for around 140,000 German workers, fueling unrest. Management aims to control escalating expenses amid VW's struggle to catch up in the electric vehicle market.

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By Monica Raymunt

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