Tag: European market

Volkswagen to shut three factories and cut pay by 10% as competition from BYD intensifies – CNBC TV18

Volkswagen AG’s top labour leader said Europe’s biggest automaker plans to close at least three factories in Germany as part of wide-ranging cost reductions to become more competitive. The plans also include pushing through universal pay cuts at the main VW brand of 10% and shrinking all remaining sites in the country, Works Council chief […]

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