Volkswagen has previously threatened closing as many as three factories in Germany for the first time in its history, amid warnings from its finance chief the company has “a yea

Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last-gasp deal between Europe's top carmaker and unions on Friday to avert mass strikes.

Rolling strikes hit nine of auto giant Volkswagen's plants across Germany for the second time this month, as the Volkswagen workforce protests painful proposed cuts at Europe's largest carmaker. Monday's strikes ratchet up the pressure on management on the same day that the fourth round of collective bargaining negotiations over pay cuts and threatened factory closures got under way on Monday in Wolfsburg,

VW and labor unions agreed on job cuts, capacity reductions, and production shifts to maintain German factories while tackling declining demand for electric vehicles.

Volkswagen on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.

Volkswagen and its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs through 2030. The agreement includes provisions for Volkswagen to shed more than 35,

Volkswagen AG and labor leaders are moving closer to an agreement to restructure the automaker’s namesake brand without shuttering factories in Germany, according to people familiar with the matter.

Volkswagen announced sweeping changes to its German operations on Friday (December 20), including more than 35,000 future job cuts and sharp capacity reductions in a last-gasp deal between Europe's top carmaker and unions to avert mass strikes.

Volkswagen and its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs through 2030.

But like many traditional automakers, Volkswagen faces increasing pressure to adapt to a rapidly changing industry. Electric vehicles, cheaper competitors, and shifting consumer preferences have created significant challenges.