According to the sources, some managers with middle and high positions are being laid off. Volkswagen is reportedly sending employees from abroad back to Germany. The car company is struggling with weaker car sales in Europe and China, especially of electric cars. Volkswagen is also suffering from competition from Chinese electric car manufacturers such as BYD. According to the sources, plans in China to raise the retirement age are also related to the job cuts. Factory closure Insiders told Bloomberg on Thursday that Volkswagen wants to close a factory in China, in response to the falling demand for cars with a combustion engine. This would concern a factory in Nanjing near Shanghai. It may close as early as next year. Volkswagen told Bloomberg that the job cuts in China are part of the German car company’s cost-saving program. The components in China “make a significant contribution to this”, but the company does not want to mention numbers. The measures are part of previously announced global cost savings, according to the company. It was recently announced that Volkswagen is considering closing factories in Germany. The German magazine Manager Magazin also wrote on Thursday, based on sources, that the group is considering cutting up to 30,000 jobs in Germany. That would amount to almost a quarter of all jobs at the Volkswagen brand in the country.
Source: www.autoweek.nl
