**Volkswagen CEO Announces Job Cuts, Plant Closures, and Res

*Volkswagen CEO, Thomas Schaefer, stated on Saturday that the automaker has no choice but to implement job cuts and plant closures in order to achieve €4 billion in cost reductions.*

*In an interview with Welt am Sonntag, Schaefer emphasized that the company must find comprehensive solutions to address its challenges. “Any solution must reduce both overcapacity and costs. We cannot apply a temporary fix and continue as is, as it would eventually have serious repercussions,” he said, according to Reuters.*

*These remarks come amid an intensifying dispute with workers, which is expected to worsen the situation. Workers have threatened to strike in December and are urging the company to find solutions that avoid factory closures and major job cuts, particularly in ongoing negotiations regarding pay and capacity.*

*Schaefer noted that most of the layoffs could be managed through normal attrition and early retirement.* Read more - -https://entrepreneurkiawaz.com/