XETRA ? EUR Volkswagen AG (VOW.DE) Follow Compare 96.05 -1.00 (-1.03%) At close: 5:35 PM GMT+1 All News Press Releases SEC Filings All SEC Filings Corporate Changes & Voting Matters Periodic Financial Reports Proxy Statements Tender Offer/Acquisition Reports Offering Registrations Volkswagen plans to close 3 German plants, workers rally Volkswagen (VWAGY) workers paused production for one hour at German auto plants to rally outside the automaker's headquarters. This all comes after Volkswagen scrapped its job protections for workers and plans to close at least three German factories, all part of the company's broader cost-cutting strategy. Catalysts host Seana Smith reports on the latest news surrounding the German automaker's relationship with its union workforce. Volkswagen is set to report third quarter earnings results this Wednesday, October 30. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Luke Carberry Mogan. Yahoo Finance Video ? 5 hours ago VLKAF VLKPF VWAGY Gulf Coast ports post sluggish cargo movements in September Ports in Houston and Corpus Christi posted modest gains in freight movements during September, while the Port of New Orleans saw mixed results. The post Gulf Coast ports post sluggish cargo movements in September appeared first on FreightWaves. FreightWaves ? 1 hour ago VWAPY Volkswagen Aims to Slash Jobs and Close Plants, Works Council Says The automaker aims to shut at least three factories in Germany, downsize its remaining plants and lay off tens of thousands of staff, according to German industrial union IG Metall. The Wall Street Journal ? 2 hours ago VLKAF VLKPF VWAGY Volkswagen will close factories and lay off thousands of workers Volkswagen (VWAGY) plans to close at least three plants in Germany and lay off thousands of workers, marking its first closure in decades as it looks to cut costs, according to the head of its works council. Quartz ? 6 hours ago VWAPY Historic moment for Volkswagen: Automaker plans to close ‘at least’ 3 German plants and cut thousands of jobs Volkswagen plans to close at least three factories in Germany, lay off tens of thousands of staff and downsize remaining plants in the country, the company’s employee group said Monday. CNN Business ? 6 hours ago VWAPY Explainer-Volkswagen Law: the unique structure behind the German carmaker's labour clash Volkswagen's plans to close plants in Germany and dissolve long-standing labour agreements with unions have put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years. Like other German conglomerates, the 87-year-old automaker is the result of decades of expansion and strategy shifts, resulting in an empire that stretches from mass-market SEATs to luxury Lamborghinis, as well as stakes in sports car maker Porsche AG and trucks firm Traton. The strong influence of workers dates back to the early days of Volkswagen before World War Two, when the Nazis built Volkswagen's main factory in Wolfsburg with money that came in part from assets expropriated from trade unions. Reuters ? 8 hours ago POAHY VWAPY Volkswagen plans cost-cutting measures amid economic pressures Volkswagen's leadership is reportedly considering various potential cost-saving measures. Just Auto ? 9 hours ago VWAPY Volkswagen's labour chief warns of mass layoffs, plant closures in Germany LONDON (Reuters) -Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it plots a deeper-than-expected overhaul, the carmaker's works council head said on Monday. This means that individual German plants are twice as expensive as the competition. Reuters ? 9 hours ago VWAPY Volkswagen to close at least three factories amid electric car struggles Volkswagen bosses are preparing to shut three German factories and sack “tens of thousands” of workers, the car giant’s top employee representative has claimed. The Telegraph ? 9 hours ago VWAPY Volkswagen's employee council says the automaker plans to close at least 3 German plants Volkswagen has informed employee representatives that it wants to close at least three plants in Germany, the head of the company's works council said Monday. Employee council chief Daniela Cavallo said at a meeting with Volkswagen workers at the company's Wolfsburg headquarters that management also plans cuts at other sites, and pledged to resist the plans, German news agency dpa reported. Associated Press Finance ? 10 hours ago VWAPY VW labour chief sounds alarm on mass layoffs and three German plant closures Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it plots a deeper-than-expected overhaul, the company's works council head said on Monday. Europe's biggest carmaker has been negotiating for weeks with unions over plans to revamp its business and cut costs, including considering plant closures on home soil for the first time, in a blow to Germany's industrial prowess. Volkswagen reiterated on Monday that restructuring was needed and said it would make concrete proposals on Wednesday. Reuters ? 10 hours ago VWAPY Volkswagen weighs wage cuts, bonus reductions in push to save 4 billion euros - Handelsblatt Volkswagen is exploring a series of cost-cutting measures for its core brand, including a 10% wage cut and a two-year wage freeze, as it seeks to save 4 billion euros, Handelsblatt newspaper reported on Sunday, citing company insiders. According to Handelsblatt, Volkswagen's leadership has discussed several potential cost-saving moves. A Volkswagen spokesperson declined to comment to Handelsblatt on the ongoing negotiations with the company’s works council and IG Metall, Germany's powerful metalworkers' union. Reuters ? yesterday VWAPY VW's Scout Motors debuts 2 new EVs and a surprise range extender hybrid option The revived Scout Motors finally showed off its two upcoming electric adventure vehicles, along with a bonus surprise. Yahoo Finance ? 3 days ago LCID TSLA VLKAF Scout Motors CEO talks strategy for profitable EV production by 2027 Volkswagen (VOW3.DE)-backed Scout Motors has unveiled new conceptual vehicles. The line features a hybrid electric pickup truck and SUV, both slated for production in 2027. Scout Motors CEO Scott Keogh joins Catalysts alongside Yahoo Finance Autos Reporter Pras Subramanian to discuss this venture. "It's the return of an iconic brand that basically made the SUV back in the day," Keogh explains. He highlights two distinct powertrains: an electric version with a 350-mile range and a range extender, which he describes as "the perfect technology for what's happening in America today." "We're going to come to the market in [20]27, and we want to grow as quickly as possible, but I think the most important thing is to get the business case right." Keogh emphasizes two critical factors: maintaining low material costs to ensure profitability and managing operating costs, which he notes will be easier as a startup company. "The fact that we're able to use the startup advantages with the backing of the Volkswagen Group to get costs down really gives us a slick business model, which is why we can turn profitable relatively quickly," he tells Yahoo Finance. He stresses the importance of controlling material costs during the manufacturing process, noting that if you don't get them down during manufacturing, "you'll never get them down." To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith Yahoo Finance Video ? 3 days ago VLKAF VLKPF VWAGY Stocks to watch this week: BP, Shell, Uber, HSBC and Intel Earnings preview of key companies reporting this week and what to look out for. Yahoo Finance UK ? 3 days ago BMY CELG-RT BASFY Volkswagen has still not presented future plan for brand, says works council boss Volkswagen has so far not presented a plan for how to make its namesake brand more competitive, the head of the group's works council said in a handout to staff, adding management remained solely focused on labour costs. The comments by Daniela Cavallo come as Europe's top carmaker and powerful union fight over potential factory closures and job cuts as part of the group's efforts to lower costs, with the second round of negotiations scheduled for Oct. 30, the day Volkswagen will release third-quarter results. "The Board of Management has still not presented a coherent overall concept for how it intends to strategically lead Volkswagen into the future with the right products, processes and plans," Cavallo said in the handout seen by Reuters. Reuters ? 3 days ago VWAPY VW Pitches America’s Heartland on EVs With New Scout Pickup, SUV The new Scout Motors brand will also offer hybrids as it competes with Ford, Rivian and Tesla for a share of the truck market. The Wall Street Journal ? 3 days ago VLKAF VLKPF VWAGY Q3 2024 Quantumscape Corp Earnings Call Q3 2024 Quantumscape Corp Earnings Call Thomson Reuters StreetEvents ? 4 days ago QS VWAPY More Companies Ditch Junk Carbon Offsets but New Buyers Loom (Bloomberg) -- Delta Airlines Inc. has for the past few years been among the biggest corporate buyers of carbon offsets. That demand — from airlines, energy companies, automakers and logistics firms — drove forecasts of a market worth hundreds of billions of dollars in the coming years.Most Read from BloombergOman Sees an Urban Future Distinct From Dubai and Abu DhabiBooming Cambridge Exposes England’s Widening Wealth GapClimate Change Is Killing Buildings in Slow MotionTransportation Policy Get Bloomberg ? 4 days ago DAL VWAPY Volkswagen finalises low-carbon steel supply agreement Initiative is part of VW's efforts to incorporate green steel into its production processes. Just Auto ? 5 days ago VWAPY Performance Overview Trailing total returns as of 10/28/2024, which may include dividends or other distributions. Benchmark is DAX PERFORMANCE-INDEX Return VOW.DE DAX PERFORMANCE-INDEX YTD -13.30% +16.60% 1-Year -3.48% +32.98% 3-Year -53.06% +24.36%
