Volkswagen Faces Employee Protests Over Layoffs

Volkswagen is facing significant unrest among its employees as it announced potential plant closures and compulsory redundancies as part of a major cost-cutting initiative aimed at revamping its core brand. Over 25,000 workers protested at the company's headquarters in Wolfsburg, expressing outrage over management's austerity measures, which include a departure from a long-standing agreement that guaranteed job security until 2029. Chief Financial Officer Arno Antlitz emphasized the need for urgent reforms to address disappointing sales and ensure future investments, while CEO Oliver Blume acknowledged the emotional toll these changes are causing. Daniela Cavallo, head of the works council, blamed management for the crisis and insisted on no plant closures or wage cuts. Labor leaders are gearing up for a strong opposition against these plans, which they view as a direct threat to employee security and collective bargaining agreements. The situation highlights the broader struggles within the automotive industry, particularly in the competitive Chinese market where VW is losing ground.