Volkswagen's Largest Plant In Europe Faces Job Cuts Amid Dwindling EV Sales
Portfolio Pulse from Benzinga Neuro
Volkswagen's largest electric vehicle (EV) production facility in Europe, located in Zwickau, Germany, is potentially facing job cuts due to decreased demand. The plant, which produces MEB-based EVs, may have to let go of a few hundred of its 11,000 employees by the end of October. The decreased demand is attributed to increased competition, inflation, and reduced subsidies.
September 14, 2023 | 9:09 am
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Volkswagen's largest EV production plant in Europe is facing potential job cuts due to decreased demand, which could impact the company's production capacity and financial performance.
The potential job cuts at Volkswagen's largest EV production plant in Europe could negatively impact the company's production capacity and financial performance. This is due to decreased demand for their EVs, which is attributed to increased competition, inflation, and reduced subsidies. This could lead to a decrease in the company's stock price in the short term.
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