Volkswagen will close four factories from 2031

Volkswagen intends to close four factories starting from 2031: Spiegel reveals this, explaining that the largest German automotive group intends to implement massive cuts. In addition to the closure of the plants, investments are expected to decrease by around 50 billion euros.

Volkswagen, which already in March had announced 50,000 job cuts inGermaniaby 2030, it is considering further cuts. The German newspaper reports it, citing two anonymous sourcesManager Magazineaccording to which the reduction in the workforce could reach up to 100 thousand employees in the coming years. The German group, like the rest of the automotive industry, is in crisis, hit by soaring energy costs, growing Chinese competition, difficulties in switching to electric and trade tensions with the United States.

Last April 30, the group which brings together a total of ten brands (including, in addition to VW, Audi and Porsche, Skoda and Seat) announced a 28% drop in net profit in the first quarter and declared its intention to accelerate its savings program as a result.