Volkswagen Group is desperate to cut costs.
As recently as 2023, the company had an operating profit of €22.6 billion, but by 2025, that number had been slashed to €8.9 billion.
2026 may be half of that.
In today’s market, it has more factory capacity in Germany that it needs, which has led to a proposal to shutter as many as four of them and reduce its domestic workforce by 50,000 workers.
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