According to the Bloomberg news agency, the German Volkswagen automaker plans to close factories in Germany after 87 years of its history.
According to the CEO of the corporation Oliver Blume, Germany as a place of doing business is increasingly lagging behind in terms of competitiveness. Management intends to lay off up to 110,000 employees in the coming years. In total, the company employs 673,000 people. The closure of the plants will be the first in 87 years.
The company currently has a deficit of 5 billion euros.
"The economic situation has deteriorated again. Germany is even further behind in terms of competitiveness," explained Blum.
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