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Volkswagen Considers Shutting German Factories: Union Explores Four-Day Work Week Amid Cost-Cutting Plans

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Volkswagen is contemplating factory closures in Germany and ending its job security program as part of a €10 billion cost-cutting plan. The AJ Metall union is exploring options like a four-day work week in response to these challenges.

Volkswagen, one of the world's largest car manufacturers, is facing unprecedented challenges as it considers closing factories in Germany and ending its long-standing job security program. This decision comes in the wake of a significant cost-cutting initiative aimed at saving 10 billion euros ($11 billion). The move has sparked a strong response from Germany's largest union, AJ Metall, which is exploring various alternatives, including the possibility of a four-day work week, to counter the impact of these closures.

The auto industry is currently grappling with a slowdown in demand, particularly for electric vehicles, compounded by fierce competition from Chinese manufacturers. Volkswagen's complex governance structure has also drawn criticism, with analysts suggesting it hampers timely decision-making during critical periods. As negotiations between Volkswagen and the union are set to commence later this month, the prospect of strikes looms, potentially beginning in late November.

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