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on september 10, volkswagen will terminate its german job guarantee agreement on december 31.

【previous report】

volkswagen considers closing german plant for first time in history to cut costs

according to bloomberg, volkswagen is considering closing its german factories to further cut costs, which is undoubtedly another heavy blow to the government of german chancellor scholz.

according to a statement released on monday, these potential measures target volkswagen's main passenger car brands and other group entities. specific measures also include trying to terminate the company's agreement with the union to ensure employment stability until 2029. if the factory is closed at this time, it will mark the first time volkswagen has closed a factory in germany in its 87-year history.

“the economic environment has become more difficult and new players are entering europe,” volkswagen ceo oliver blume said in a statement. “germany is falling further behind in terms of competitiveness as a business location.”

works committee chairwoman daniela cavallo said management was failing, according to a separate statement, after the company met to discuss in detail the potential losses at its core brand, which makes the golf and tiguan models. the company said it plans to close at least one of its larger car plants and a parts factory in germany, while scrapping wage agreements.