Germany’s automotive giant Volkswagen (VW) will shut down production at four German factories. Up to 90,000 German jobs are at risk, reports Der Spiegel.
Within five years, production at the factories in Zwickau and Emden is to be phased out. This is followed by the closure of two more factories: Hannover until 2032 and Neckarsulm until 2034.
The four factories have a total of around 40,000 employees and, in addition, CEO Oliver Blume plans to reduce the workforce by 50,000 employees and reduce investments by around 50 billion euros.
Information about major cutback plans at VW has previously been reported in the German press at the end of June.
Want to see what your car is worth? At Riddermark Bil, you can value and sell your car quickly and easily.
