Volkswagen is preparing to lay off tens of thousands of employees in Germany due to a large-scale crisis, writes Bild.

The company’s board of directors announced a strict cost-cutting plan: at least three out of ten plants in Germany will be closed, entire departments will be laid off at others, salaries will be reduced by 18%, and social benefits will be canceled.

Entire departments are planned to be outsourced abroad.

Approximately 120,000 people work at VW plants in Germany, with about half of them at the main plant in Wolfsburg.

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