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 will be cutting 35,000 jobs across its German locations by 2030, with the aim of saving 1.5 billion euros (RM7.03 billion) annually in labour costs through the Zukunft Volkswagen (translated as Future Volkswagen) agreement,

Volkswagen has reached a deal with the IG Metall trade union which will avert plant closures in Germany and avoid immediate compulsory redundancies. The two sides have, however, agreed to cut more than 35,000 jobs across the country in a "socially responsible manner" by 2030, in order to save some €15bn (£12.4bn).

More than 35,000 jobs will be cut across Germany as Volkswagen trims production capacity by 734,000 units. Production will end at Volkswagen’s Transparent Factory next year, while Golf production is moving to Mexico.

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.

Crisis-hit auto giant Volkswagen said Friday it planned to cut 35,000 jobs by 2030 in Germany after reaching an agreement with unions on a drastic cost-cutting plan.

No plant closures, but VW Group manufacturing capacity will be cut by 730k across German plants and 35k jobs to go.

FRANKFURT, Germany — Volkswagen's employee representatives said Friday they have reached a wage deal that wards off management proposals for plant closings in Germany and bars involuntary layoffs through 2030.

A new Bloomberg report cites that Volkswagen may in fact be closing in on a deal to keep its factories in Germany open.