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. What's more, the company is considering ending its stable employment program, which prevents job cuts until 2029.
"The situation is extremely tense and cannot be overcome by simple cost-cutting measures," VW brand chief Thomas Schaefer said.
Source: xStation
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