Volkswagen Could Close Four Plants and Cut Tens of Thousands of Jobs as Automaker Works on Rescue Plan

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Volkswagen is preparing a historic restructuring that can lead to the closure of four German factories and courts that threaten tens of thousands of jobs.

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Volkswagen is facing one of the biggest restructuring phases in its history. The German automaker's plant is reportedly set to close.

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According to a leaked internal Volkswagen document, it costs more than four times as much to produce a car in Emden, Germany, as it does in Tianjin, China. The difference is not only explained by six times the labor costs, but also by the fact that there are many more cars per worker in the Chinese plant and the number of sick leave is a fraction of that in Germany. Volkswagen is preparing to close up to four of its German plants in the coming y…