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Germany

VW concludes ‘pact for the future’ with EUR 3.5 billion of investment, 23,000 jobs cuts

On November 18, the Volkswagen Group announced that it and labor union representatives have agreed in a ‘pact for the future’ to cut 23,000 jobs at the core VW brand through natural fluctuation and partial early retirement in exchange for avoiding forced redundancies in Germany until 2025.
The turnaround plan will le....

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