Volkswagen Plans to Cut 100,000 Employees and 4 Automotive Plants—but Its CEO Is Still Optimistic

The company is currently looking to avoid a financial crisis through sweeping changes.

BY MOSES JEANFRANCOIS, NEWS WRITER @MOSESJEANS

Changes are coming to a major automaker. Volkswagen recently announced plans to shut down four of its automotive plants—and cut 100,000 employees.

According to Manager Magazin, the German automaker plans to eliminate 15 percent of its workforce as a result of increased competition from Chinese car brands. The company is also seeking to looking to reduce its........

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