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

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,

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 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.

VW’s iconic Golf hatchback is following in the wheeltracks of its Beetle ancestor to a second life in Mexico, as the company announces a huge restructuring that will cost 35,000 jobs in Germany by 2030.

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.

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.

Europe's top carmaker Volkswagen agreed a deal with unions on Dec. 20 to cut 35,000 jobs and to reduce factory output by almost a quarter in Germany, though there no immediate plant closures or layoffs.

Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming the world's third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels.

VW Group threatened to close up to three plants in Germany, but a deal with workers means those plants are safe.