German car concern "Volkswagen" (VW) plans to lay off 19,000 employees by the end of this year.
Modern.az reports with reference to "Reuters" that the layoffs are part of VW's large-scale plan to reduce costs. The company has faced problems in recent years due to decreasing demand, difficulties with the sale of electric cars, and increasing competition from Chinese corporations.
Already in 2024, VW had warned that factories would have to be closed and tens of thousands of employees would be laid off.
