Volkswagen has announced a deal with European unions to avoid factory closures in Germany and massive strikes. As part of the agreement, more than 35,000 jobs will be eliminated in a “socially responsible” manner by 2030,

Volkswagen's chief executive welcomed a deal to slash jobs and reduce production capacity in Germany without the need to close factories, but the car giant's shares fell heavily on Monday.

Volkswagen announced a “Christmas miracle” with sweeping changes to its German operations but no immediate factory closures, layoffs, or wage cuts. Still, some 35,000 jobs are on the chopping block in the coming soon.

Volkswagen and its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs

The automaker agreed to keep all 10 of its factories in Germany open and to guarantee workers’ jobs until the end of 2030.

German carmaker Volkswagen's deal with unions — that would see 35,000 future job cuts in Germany — is "good news" for the company, its CEO said Sunday.

Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last gasp deal between Europe’s top carmaker and unions on Friday to avert mass strikes.

Here are the main points of a deal struck on Friday between Volkswagen and unions on the carmaker's German sites and jobs. The agreement followed more than 70 hours of talks and averted the spectre of strikes at Europe's largest carmaker.

Volkswagen has reached a deal with the IG Metall trade union which will avert plant closures in Germany and avoid immediate compulsory redundancies. The two sides have, however, agreed to cut more than 35,000 jobs across the country in a "socially responsible manner" by 2030, in order to save some €15bn (£12.4bn).

Former Volkswagen Group chief executive Martin Winterkorn has accused the judge leading a criminal trial into the 77-year-old's alleged role in the diesel emissions scandal of bias, dpa learnt on Monday.

Volkswagen has offered thousands of workers at its factory in Tennessee a 14% pay rise over four years, while workers in its homeland of Germany continue demonstrations over proposed pay cuts and factory closures. The German carmaking giant proposed a ...

Volkswagen’s troubles extend beyond its factories. The strikes come at a time of broader economic and political uncertainty in Germany. Chancellor Olaf Scholz, facing declining poll numbers ahead of a snap election, has publicly urged Volkswagen to avoid factory closures, adding political pressure to an already volatile situation.