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.

No plant closures, but VW Group manufacturing capacity will be cut by 730k across German plants and 35k jobs to go.

Volkswagen strikes end with deal preventing compulsory redundancies and plant closures but company remains set on streamlining.

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.

VW and labor unions agreed on job cuts, capacity reductions, and production shifts to maintain German factories while tackling declining demand for electric vehicles.

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 on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.

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).

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.

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.

FRANKFURT, Germany — Volkswagen's employee representatives said Friday they have reached a wage deal that wards off management proposals for plant closings in Germany and bars involuntary ...