Key facts
- Volkswagen management has communicated to employee representatives that current job cuts are insufficient.
- The carmaker is considering closing four German factories.
- Job cuts could potentially reach 100,000 positions.
- The exact number of additional job reductions has not been specified to employee representatives.
Volkswagen management has indicated to the company's employee representatives that the currently agreed-upon job cuts are not sufficient, according to a note from the works council seen by Reuters. The note added that further reductions have not yet been quantified for employee representatives.
This comes as the European automotive giant is reportedly considering a significant overhaul that could involve shutting down four German factories and increasing job cuts to as many as 100,000 positions. This potential restructuring could represent the largest overhaul in the automotive sector's history.