Frankfurt, September 2: Germany's Volkswagen says auto industry headwinds mean it can't rule out plant closings in its home country - and is dropping a longstanding job protection pledge in force since 1994 that would have barred layoffs through 2029. 슬롯사이트The European automotive industry is in a very demanding and serious situation," Oliver Blume, Volkswagen Group CEO, said in a statement Monday.

He cited new competitors entering the European markets, Germany's deteriorating position as a manufacturing location and the need to 슬롯사이트act decisively.슬롯사이트 Thomas Schaefer, the CEO of the Volkswagen Passenger Cars division, said efforts to reduce costs were 슬롯사이트yielding results슬롯사이트 but that the 슬롯사이트headwinds have become significantly stronger.슬롯사이트슬롯 머신 사이트 추천Kia Motors India Registers Over 17% Growth YoY; Sells 22,523 Units in August 2024.

European automakers are facing increased competition from inexpensive Chinese electric cars. The company's half-year results indicate it will not achieve its target for 10 billion euros in costs savings by 2026, the company said. The discussion around closures and layoffs is for the company's core Volkswagen brand. The core brand saw operating earnings sag to 966 million euros ($1.1 billion) from 1.64 billion euros in the year-earlier period.

The group also includes luxury makes Audi and Porsche, which have higher profit margins than the mass-market vehicles made by Volkswagen, as well as SEAT and Skoda. The company has sought to cut costs through early retirements and buyouts that avoid forced layoffs, but is now saying those measures may not be enough. Volkswagen has some 120,000 workers in Germany.

A plant closing would be the first since its U.S. plant in Westmoreland, Pennsylvania closed in 1988, according to the dpa news agency.

Union officials and worker representatives attacked the idea of closings or layoffs. Management's approach is 슬롯사이트not only shortsighted, but dangerous, as it risks destroying the heart of Volkswagen,슬롯사이트 Thorsten Groeger, chief negotiator with VW for the IG Metall industrial union, said on the union's website.

Top employee representative Daniela Cavallo said that 슬롯사이트management has failed... The consequence is an attack on our employees, our locations and our labor agreements. There will be no plant closings with us.슬롯사이트슬롯 머신 사이트 추천Volkswagen Layoffs Coming? Volkswagen Might Shut Plants in Germany, End Job Security Scheme as Part of Cost-Cutting Measures.

The governor of Germany's Lower Saxony region, Stephan Weil, who sits on the company's board of directors, agreed the company needed to take action but called on Volkswagen to avoid plant closings by relying on alternative ways to reduce costs: 슬롯사이트The state government will pay particularly close attention to that,슬롯사이트 he said in a statement reported by the dpa news agency.

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