German car-manufacturing giant Volkswagen is considering closing some of its plants and laying off some of its workforce.
Rising costs were cutting into profits, leaving Volkswagen facing “particularly significant challenges,” the group said in an internal memo seen by AFP. “In the current situation, even plant closures at vehicle production and component sites can no longer be ruled out,” Volkswagen said in the note sent to employees.
Founded in 1937, the company has never had to close plants in Germany.
