VW workers are preparing for the consequences of years of bankruptcy

Volkswagen AG begins an unprecedented restructuring in Germany, which amounts to compensation for the fact that the problems at the brand of the same name have been simmering for years.

The manufacturer plans to close at least three German factories, downsize all other remaining locations in the country and cut wages for around 140,000 workers by 10%. There are also plans to freeze wages next year and in 2026 and to abolish one-off payments to long-term employees.