Volkswagen majority stakeholder supports German factory closures
Briefly

The Porsche-Piëch family, as majority stakeholders, strongly supports decreasing the number of German plants to cut costs, reflecting concerns over Volkswagen's global competitiveness.
With Germany's high labor costs and excess capacity, the Porsche-Piëch family believes significant cost efficiency measures are essential, indicating they may even cut their Volkswagen stake by 40%.
Previous proposals for reduced dividends by German unions have been rejected, but the push for drastic cuts continues, as Volkswagen faces declining sales and rising operational costs.
Volkswagen's future hinges on strategic decisions regarding operations in Germany, as failing to adapt could hinder its competitive edge in an increasingly challenging auto market.
Read at euronews
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