Drop comes as carmaker faces battle with unions over plan to shut three factories in Germany
Volkswagen has reported a 60% drop in profits amid a slump in sales in China, with the carmaker emphasising the difficulties it faces as it prepares to close factories in Germany for the first time.
Germany’s biggest carmaker has told workers it is considering shutting three plants serving its main Volkswagen brand in its home market and cutting staff pay, raising the prospect of an extended battle with unions representing 120,000 German employees.
About Author
More Stories
Sing when you’re winning: how karaoke in cars heralds the triumph of Chinese firms
RBA interest rates: Reserve Bank of Australia cuts cash rate to 3.85% amid lowering inflation
M&S expects cyber-attack to last into July and cost £300m in lost profits