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Message: <blockquote data-quote="dinuksha_asela" data-source="post: 30115054" data-attributes="member: 18340"><h3>For the FIRST time, German car giant Volkswagen to close its home plant due to cost cuts</h3>German car giant Volkswagen is considering factory closures in its home country, for the FIRST time. To a packed hall of 16,000 workers and another 5,000 outside watching on a screen, Arno Antlitz said Europe's car market had shrunk after the pandemic and the company was facing a shortfall in demand of about 500,000 cars, equivalent to about two plants. Volkswagen has "one, maybe two" years to turn its main car brand around, the automaker's finance chief said on Wednesday (September 4), trying to convince workers at a stormy meeting to back plans for deep cost cuts. Volkswagen employees at the German carmaker’s Kassel plant said everyone was worried about their job after the management disclosed cost cutting plans. Powerful worker representatives on Wednesday (September 4) did not rule out staging strikes at Volkswagen in Germany if there is no agreement with management that avoids the closure of plants in the country. <a href="https://www.reuters.com/business/autos-transportation/volkswagen-warns-possible-plant-closures-germany-2024-09-02/" target="_blank">https://www.reuters.com/business/autos-transportation/volkswagen-warns-possible-plant-closures-germany-2024-09-02/</a>[MEDIA=youtube]noJMthQpMNU[/MEDIA]</blockquote>

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