Volkswagen braces for boardroom showdown over historic cost-cutting plan
- Employees of Volkswagen Sachsen GmbH stand with Dirk Panter (SPD, M), Saxony's Minister of Economic Affairs, in front of the Volkswagen plant gate.
- Picture Alliance | Picture Alliance | Getty ImagesVolkswagen is bracing for a high-stakes boardroom showdown following reports that the embattled auto giant is weighing up shutting four German factories and implementing as many as 100,000 job cuts.
- The mass layoff plan, which would represent the most radical overhaul in the firm's nearly 90-year history, is staunchly opposed by German lawmakers and powerful labor unions.
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- Employees of Volkswagen Sachsen GmbH stand with Dirk Panter (SPD, M), Saxony's Minister of Economic Affairs, in front of the Volkswagen plant gate.
- Picture Alliance | Picture Alliance | Getty ImagesVolkswagen is bracing for a high-stakes boardroom showdown following reports that the embattled auto giant is weighing up shutting four German factories and implementing as many as 100,000 job cuts.
- The mass layoff plan, which would represent the most radical overhaul in the firm's nearly 90-year history, is staunchly opposed by German lawmakers and powerful labor unions.
Sources: Cnbc