Volkswagen Faces Historic Plant Closures Amidst Union Resistance

CEO Oliver Blume confronts high costs and competition as he challenges Germany's powerful labor unions with potential factory shutdowns.

Volkswagen considers ending a 30-year job security agreement, risking plant closures in Germany.
CEO Blume aims to save €10 billion amidst falling EV demand and rising competition from China.
Unions, led by IG Metall, pledge fierce opposition to any factory shutdowns.
Volkswagen's governance structure complicates decision-making, with the state of Lower Saxony holding significant sway.
Analysts see potential closures as a necessary step for VW's survival in a competitive market.