Crisis-hit Volkswagen eyeing plant closures, deep pay cuts
- Posted on October 28, 2024
- By Business News Today
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Crisis-hit Volkswagen eyeing plant closures, deep pay cuts
Volkswagen is considering closing several plants in Germany and slashing salaries by 10 percent as the ailing auto giant pursues a drastic cost-cutting plan, a media report said Monday. VW is also eyeing a 10-percent pay cut for all remaining staff and no salary increases in 2025 and 2026, Handelsblatt said.
