Volkswagen group is set to close three plants due to slumping sales and competition from China, the company said on Monday.
The company’s managment said it will cut tens of thousands of jobs, and also slash pay by 10% for remaining staff.
The manufacturer is also seeking to downsize all remaining plants. VW currently has 10 plants and 300,000 employees in Germany.
This would be the first time Volkswagen has shut a factory in Germany since its 87-year history.
