Volkswagen is preparing to close four factories in Germany by 2034 and will reduce 50,000 jobs.

Volkswagen, one of the largest car manufacturers in the world, is preparing for one of the most extensive restructurings in its history, according to the publication Der Spiegel. The company intends to close four plants in Germany, starting with those in Zwickau and Emden, which will cease operations by 2031.

The process will continue with the closure of the plant in Hanover in 2032 and the one in Neckarsulm in 2034. This decision will affect approximately 40,000 employees and will have a significant impact on the labor market and the local economy.

Volkswagen's CEO, Oliver Blume, initiated this restructuring to reduce costs and adapt the company to the rapid changes in the automotive industry, aiming to eliminate up to 50,000 jobs by 2030. Volkswagen is facing challenges such as declining demand for electric cars in Europe, competition from Chinese manufacturers, and high production costs in Germany, making this profound transformation necessary.