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What type of government intervention will occur in response to Volkswagen's cost-cutting measures by the end of 2025?
2
Resolution / Starting Odds
Government provides financial aid • 25%
Government imposes restrictions • 25%
Government supports Volkswagen's plan • 25%
No government intervention • 25%
Official government statements or reports from major news outlets
Story
Volkswagen Plans 10% Wage Cut, Close Three Factories in Germany to Save €4 Billion
Oct 28, 2024, 10:17 AM
Volkswagen is considering significant cost-cutting measures, including a 10% wage cut and a two-year wage freeze, to save €4 billion. The company plans to close at least three factories in Germany, including the Osnabrueck plant, and downsize all remaining plants, which could result in tens of thousands of job losses. The measures also include capping bonuses for top executives and outsourcing or shifting entire departments abroad. Volkswagen's Works Council has expressed strong opposition, with workers rallying at German car plants and calling for a government plan to kickstart electric mobility.
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Wage cuts implemented • 25%
Plant closures executed • 25%
Forced layoffs conducted • 25%
None of the above • 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%
Early retirement • 25%
Buyouts • 25%
Natural attrition • 25%
Other measures • 25%
Strengthen compliance measures • 25%
Increase diplomatic engagement • 25%
No significant changes • 25%
Other strategic changes • 25%
Yes • 50%
No • 50%
Wage reductions • 25%
Plant closures • 25%
Job outsourcing • 25%
Other measures • 25%
Rising costs • 25%
Slowdown in consumer spending • 25%
Increased competition from China • 25%
Other • 25%
Less than 1 billion euros • 25%
1 to 3 billion euros • 25%
3 to 5 billion euros • 25%
More than 5 billion euros • 25%