Volkswagen (VOW1.DE) shares have already rebounded more than 4% from daily lows, gaining 2.5% on an intrday basis after the company said it was considering closing the company's German factories to cut costs. Â What's more, the company is considering ending its stable employment program, which prevents job cuts until 2029.Â
"The situation is extremely tense and cannot be overcome by simple cost-cutting measures," VW brand chief Thomas Schaefer said.
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Source: xStationÂ
