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Layoffs Loom as Volkswagen Fights for Survival

OilPrice.com Wednesday, 11 September 2024 ()
As discussed earlier today, Germany's economy is slowly but surely sinking, whether or not Mario Draghi's proposal to flood Europe in new debt is eventually accepted, and nowhere is the pain more tangible than Germany's iconic carmaker, Volkswagen, which we reported last week was considering its first-ever factory closure amid a dire economic backdrop, and which today took the shocking - for Germany - decision to end job protections for German auto workers as part of its cost-cutting push, setting up a calamitous showdown with unions as the country’s…
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