Austerity package: Lies sees VW agreement as a "future-proof concept"
The supervisory board of Volkswagen has unexpectedly agreed on a package of austerity measures. This provides for the reduction of tens of thousands of jobs - what Lower Saxony's Prime Minister Lies has to say about it.
Niedersachsen's Prime Minister Olaf Lies has welcomed the agreement on Volkswagen's savings plans as a "future-proof concept" for the company. The plans, which include the loss of 50,000 more jobs and potentially affect four works, were approved unanimously by the VW supervisory board, which Lies is a part of. Lies stated that the agreement marks a new beginning and that the company will invest in its future viability and competitiveness.
The four potentially affected works are Emden, Zwickau, Hannover, and Neckarsulm, with VW exploring alternative uses for them.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
