Volkswagen hints at possible layoffs of 50,000 employees

Volkswagen has stated that the company may consider cutting around 50,000 additional jobs to boost its competitiveness and reduce costs, which remain approximately 20% higher than the average of similar companies. After successfully reducing 50,000 jobs already, the company is now exploring the possibility of reducing the workforce by a similar amount worldwide, evaluating all regions and brands. Additionally, the company is faced with options to close four of its factories in Germany, coinciding with a 9% decline in sales during the second quarter of the year.

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