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Volkswagen to cut 100,000 jobs
Volkswagen plans to eliminate up to 100,000 jobs and shut down production at four factories in Germany as part of a major restructuring plan, which also includes a 15% reduction in its investments to over 130 billion euros over the next five years. These measures come amid pressures to focus more on core operations and to accelerate its shift to electric vehicles, amidst opposition from labor unions that have pledged to resist these plans. The changes will affect approximately 15% of the company's total workforce of 667,164 employees worldwide.
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