Volkswagen, one of the world’s largest automakers, is reportedly planning to cut as many as 100,000 jobs over the next few years, representing 15% of its global workforce. The job cuts would come alongside the planned closure of four factories in Germany and a 15% reduction in investment over the next five years.

Global Impact

The company owns several other brands, including Audi and Porsche. A Volkswagen spokesperson declined to comment on internal, confidential documents. The spokesperson added that the company required ‘sharper focus as well as stricter discipline over costs and investment’ to meet its new reality.

Any job cuts will likely meet resistance from German unions. ‘If such plans are pushed forward, we would prevent them with all our might,’ labor union IG Metall and Volkswagen’s General Works Council said in a joint statement.

Original reporting: WPBF West Palm Beach — read the source article.