Volkswagen is considering closing factories in Germany for the first time in its 87-year history, amid efforts to save 10 billion euros by 2026 due to declining car sales and increased competition from Asian manufacturers. CEO Oliver Blume announced the potential end of job protection policies that have historically safeguarded employment, provoking outrage among workers and concern among German politicians. The company's core brand has struggled to meet cost-cutting targets, relying on voluntary retirements and buyouts that have proven insufficient. CFO Arno Antlitz highlighted that the European car market has contracted significantly since the pandemic, leading to excess production capacity. Volkswagen's recent financial performance shows a drop in operating profit and sales, exacerbated by rising costs and weak demand. This upheaval not only threatens Volkswagen's workforce but also raises alarms about the broader implications for Germany's industrial sector.