Volkswagen Reconsiders Closing German Factories

Volkswagen has decided not to close factories in Germany: instead, the capacity of several of them will be reduced and 35,000 jobs will be cut. However, nobody will be laid off: the reduction of jobs will be implemented by refraining from hiring new workers to replace those who leave and reducing the intake of trainees until 2030. In exchange for not closing the factories, Volkswagen's union has agreed to forego salary increases and bonuses.