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How many factories will Volkswagen close in Germany by the end of 2024?
2
Resolution / Starting Odds
No closures • 25%
One closure • 25%
Two closures • 25%
Three or more closures • 25%
Official announcements from Volkswagen, major news outlets such as Reuters, Bloomberg, or Volkswagen's corporate website
Story
Volkswagen Weighs First-Ever German Factory Closures in 87-Year History to Save Billions
Sep 2, 2024, 02:40 PM
Volkswagen is considering unprecedented factory closures in Germany as part of a cost-cutting initiative aimed at saving billions of euros. This move marks the first time in the company's 87-year history that it might shut down major production facilities in its home country. The closures could affect at least one larger vehicle manufacturing plant and one component factory. The decision is driven by the need to address rising costs, a slowdown in consumer spending, and increased competition, particularly from China. This development poses a significant challenge to Chancellor Olaf Scholz's government and risks a confrontation with labor unions over job security, as Volkswagen plans to end its long-standing employment protection agreement.
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None • 25%
1 • 25%
2 • 25%
3 or more • 25%
None • 25%
One • 25%
Two • 25%
Three or more • 25%
Close one factory • 25%
Close two factories • 25%
No closures • 25%
Other • 25%
Closes 3+ factories and downsizes others • 25%
Closes less than 3 factories, no downsizing • 25%
No closures but downsizes existing factories • 25%
No closures or downsizing • 25%
Reduced by over 10,000 employees • 25%
Reduced by 5,000 to 10,000 employees • 25%
Reduced by less than 5,000 employees • 25%
No reduction in workforce • 25%
All planned closures and wage cuts implemented • 25%
Some closures and wage cuts implemented • 25%
No closures but wage cuts implemented • 25%
No closures or wage cuts implemented • 25%