VW brand boss says layoffs, plant closures needed to fix problems

A general view of a production line in a Volkswagen plant in Emden, Germany. — VW's plant in Emden, which builds slow-selling electric cars, could be used for contract manufacturing under the automaker's cost-saving plans. (REUTERS)

November 23, 2024 08:34 AM

FRANKFURT — Volkswagen sees no chance of avoiding layoffs and plant closures in Germany to cut €4 billion ($4.2 billion) in costs, the brand’s CEO Thomas Schaefer said, amid an escalating dispute with workers.

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