VW wage deal for 120,000 German workers avoids layoffs, plant closures

AP Business Writer

FRANKFURT, Germany (AP) — Volkswagen’s employee representatives say they have reached a wage deal. The deal will ward off management proposals for plant closings in Germany and bars involuntary layoffs through 2030. The company said the deal includes provisions to shed more than 35,000 jobs in “socially responsible” ways by 2030. The company pressed for cost cuts to deal with lagging auto sales in Europe.