The head of Volkswagen’s workers council says the car giant intends to close at least three factories in Germany, leading to the loss of tens of thousands of jobs. Volkswagen has never closed a plant in Germany before. The announcement comes after VW reported a 14% drop in net profits in the first half of the year, and ended a decades-old agreement with unions on job security. The company has been in talks with unions over cost-savings plans, blaming weak sales for falling profits.
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