There is a lot of bad news from the German economy. Zero growth, job cuts, structural change, high energy prices. But hardly any of them have triggered such an earthquake as Volkswagen’s alarm call. Europe’s largest car manufacturer is threatening to close factories in its home market for the first time in its history. The job guarantee, which has existed for three decades and excludes redundancies at VW in Germany, has been canceled by the company. The situation is serious, warned CEO Oliver Blume.
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