Volkswagen (ETR:VOW3) China push puts spotlight on German jobs, factories
Volkswagen is weighing up to 100,000 job cuts and possible closure of four German plants, sources told Reuters. Lower Saxony, which owns 20% of VW voting rights, is urging the company to build China-developed models in Germany to protect jobs. VW shares closed at 74.28 euros Friday, down 28% since January. The supervisory board will discuss the restructuring plan on July 9.