Tens of thousands of Volkswagen employees staged protests across multiple German sites on Thursday, rejecting the automaker’s proposed restructuring plans that could eliminate up to 100,000 jobs and shutter four production plants.
The demonstrations coincided with a closed-door meeting of the company’s supervisory board, which is currently deliberating the final details of the cost-cutting measures.
The plan, first reported in confidential documents, outlines a multi-year strategy to reduce headcount and consolidate manufacturing capacity.
Workers have vowed not to accept the proposed reductions, signaling a potential standoff between management and labor unions as the company attempts to streamline operations.
The scale of the proposed restructuring marks a significant shift for the German automaker, which is grappling with intense competition in the electric vehicle market and slowing demand in key regions.
The plan, first reported in confidential documents, outlines a multi-year strategy to reduce headcount and consolidate manufacturing capacity.
The immediate market reaction has been muted, with investors weighing the long-term efficiency gains against the short-term risks of labor unrest and potential production disruptions.