German auto giant Volkswagen is having trouble selling cars, which means a large number of the company's employees is now on the chopping block.
The latest reports suggest that VW could end up laying off 30,000 of its 300,000 German employees as part of a massive restructuring plan. Between 4,000 and 6,000 of the company's 13,000 research and development employees are expected to go, along with thousands from other divisions of the company.
Overall, VW is expected to slash upwards of two billion euros (about $2.23 billion) in investments over the medium term to help steady the ship. From there, the company will take further action if necessary to plug the holes of the sinking ship.
The company hinted at some employee trimming earlier this month, but this latest update suggests that VW is planning even more aggressive cuts than previously believed. Official news about the company's final decision on how many jobs to slash is expected to come any day now.
VW to close factories for first time in 87-year history
In addition to laying off tens of thousands of employees, Volkswagen also announced plans to close production plants in Germany as Europe's industrial collapse accelerates.
VW's factory closures mark a first in the company's 87-year history. Executives say the changes are necessary to address soaring business costs, including labor and energy, as well as logistics and supply chain problems, many of which still linger in the aftermath of the Wuhan coronavirus (Covid-19) "pandemic."
"It would mark the end of a 3-decade long pact guaranteeing worker safety," tweeted Remix News & Views (@RMXnews). "VW employees [sic] 300,000 workers in Germany, making it a bedrock company for the economy."
According to Arno Anlitz, VW's chief financial officer (CFO), the company is simply not selling enough cars anymore to warrant keeping all of its existing plants open into the future.
"The market is simply no longer there," he said somberly at the start of September.
Should VW follow through on these aggressive cost-cutting plans, it will make Germany's far-left ruling government look really bad in the eyes of the populace. The ruling regime already has record-low support at the polls, and any further destruction of Germany's economy will only worsen the German public's opinion of their government.
Alternative for Germany (AfD) co-leader Alice Weidel regularly refers to German Chancellor Olaf Scholz as the "chancellor of decline" – and she says this straight to his face. Since Scholz became chancellor of Germany, 500,000 jobs have been lost throughout the country, including:
• 14,000 jobs lost at auto supplier ZF
• 10,000 jobs lost at SAP
• 4,600 jobs lost at Ford
• 3,760 jobs lost at Bosch
?? AfD co-leader Alice Weidel calls German Chancellor Olaf Scholz the "chancellor of decline" to his face.
?500,000 jobs lost since Scholz became chancellor
?Auto supplier ZF will cut 14,000 jobs
?SAP will cut 10,000
?Ford 4,600
?Bosch 3760
And the list goes on... pic.twitter.com/cxbTQ8NPOx
— Remix News & Views (@RMXnews) September 15, 2024
Another factor in VW's decline, not to mention that of the greater automobile industry, is the failure of electric vehicles (EV). Consumers simply do not want EVs, no matter how aggressively the government and media try to push them. And VW is among the automakers that threw a lot of cash at EVs, only to learn that they do not sell.
"If you don't have cheap energy, your manufacturing industry collapses," someone wrote on X about the deindustrialization of Germany and Europe at large.
"If the EU, UK, and U.S. do not totally ban autos from China, millions of jobs will shift to China in the next five years," wrote another.
The global economy is largely a mirage that will very soon fade into oblivion, unleashing hell from behind the veil. Find out more at Collapse.news.
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