There is a lot of bad news from the German economy. Zero growth, job cuts, structural change, high energy prices. But hardly any of it has caused such an earthquake as the alarm call from Volkswagen. Europe’s largest carmaker is threatening to close factories in its home market for the first time in its history. The job guarantee that has been in place for three decades and which excludes redundancies at VW in Germany has been canceled by the company. The situation is serious, warned CEO Oliver Blume.
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