Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy, the company's works council head said. CGTN’s Trent Murray reports.
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00:00Well Volkswagen is planning to close at least three factories, lay off tens of
00:05thousands of workers and reduce its European manufacturing footprint. That is
00:10the new warning today from the head of the Works Council at Volkswagen. They
00:15effectively look after all of the employees at the company. That group says
00:19it has been in talks with Volkswagen's board and has been given a warning that
00:23some serious cuts are coming. Volkswagen for its part will not confirm all of
00:28this but what they do say is that on Wednesday we will learn some more
00:32details amid plans for some cost savings measures. Board members at the company
00:37are saying right now German factories are just not productive enough and are
00:41facing stiff competition from Asia.