Pummeled by Shrinking Sales, Volkswagen Mulls Pay Cuts as Threats of Union Strikes Looms

Oct 31, 2024 | EARNINGS

German carmaker Volkswagen has been forced to consider plant closures, termination of employee protections agreed with unions, and other cost-cutting measures amid surging energy prices, increasingly stiff competition from China, and European Union policy decisions that have stripped the company of its competitive advantage.

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