German Volkswagen Group reaches agreement with unions to cut 35,000 jobs

Germany's Volkswagen Group announced on December 20 that it had reached an agreement with the union to lay off more than 35,000 employees, or about a quarter of its total workforce, at 10 factories in Germany by 2030. Although there will be no immediate closure of factories or layoffs, the Volkswagen Group will undergo major reforms. It is expected that by 2030, Germany will cut production capacity by more than 700,000 vehicles. In addition, Volkswagen's smallest factory in Dresden will stop producing cars by the end of 2025 and switch to other uses.