German automotive giant "Volkswagen" is discussing plans for large-scale layoffs and the closure of some production facilities.
Modern.az reports, citing foreign media, that the company is considering cutting up to 100,000 jobs in the coming years.
Currently, the "Volkswagen" group, which includes the Porsche and Audi brands, employs approximately 657,000 people. The company's CEO, Oliver Blume, has presented a new strategy that envisages saving up to 11 billion euros by the end of the decade.
According to the information, the closure of several factories operating in Germany is also on the agenda as part of the plan. Among the facilities under discussion are Audi's Neckarsulm plant, as well as Volkswagen's production sites in Hanover, Zwickau, and Emden.
It is noted that the final version of the company's future development strategy will be presented to the Supervisory Board next month. That document is expected to reflect both the scale of the layoffs and the final decisions regarding the fate of the factories.
In recent years, Europe's automotive industry has faced serious challenges due to rising production costs, increasing competition in the electric vehicle market, and global economic uncertainty. Volkswagen's planned steps are aimed at optimizing the company's costs against the backdrop of these problems.
