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The Volkswagen supervisory board approved a restructuring plan involving 50,000 job cuts globally and a reduction in models. Several state premiers are advocating for the preservation of their VW plants, which are considered uncompetitive and may explore alternative uses.
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Germany's Labour Minister Bas is calling on Volkswagen to maintain its German production sites in Neckarsulm, Hanover, Emden, and Zwickau. While the federal government welcomes a cost-saving plan, it vaguely hopes for sustainable solutions. A state premier estimates up to 25,000 jobs in Germany are at risk.
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The Supervisory Board and Management Board of Volkswagen have reached an agreement on cost-saving plans. Sophie Mühlmann from NDR reports on the agreement.
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Volkswagen and its stakeholders reached a last-minute agreement on a savings package that had planned to close five plants and eliminate 60,000 jobs. The agreement, reached after intensive negotiations, prevents an existential crisis for the company.
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In August, 54.2 percent of Deutsche Bahn's long-distance trains were on time, defined as less than six minutes delay. This is a decrease from 61.1 percent in May and 64.4 percent in April.
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Statutory health insurance doctors warn of staff layoffs and patient consequences due to planned savings of three billion euros in outpatient care. An action in Berlin is being organized by influencer Bea Merscher.
Companies & MarketsWork & CareerIndustry & Production
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Volkswagen plans to cut an additional 50,000 jobs, on top of existing reductions. The future of four plants remains uncertain as competitive follow-up assignments cannot be guaranteed there from 2031. The stock market reacted positively to the agreement.
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NASA's New Horizons probe risks the shutdown of two instruments due to $4 million in promised funding not being paid. These funds are designated for data analysis by employees.
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47% of Gen Z in the UK (aged 18-27) are not considering their retirement, and 12% have stopped saving for it entirely. Many young people feel unable to afford retirement due to the cost of living crisis, stagnant wages, and uncertainty.