An employee of the Volkswagen (VW) plant in Zwickau holds a red clock set at five to twelve symbolizing "it is time" while demonstrating on the factory premises during an information event organised by the Works Council of Volkswagen Saxony in Zwickau, eastern Germany, on October 28, 2024. Ailing auto giant Volkswagen plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive, workers' representatives said October 28, 2024, calling the proposed cuts "of historic dimensions". The plan laid out by management, which affects the namesake VW brand, also includes a 10-percent pay cut for all staff, the company's powerful works council said in an update to staff. (Photo by JENS SCHLUETER / AFP) (Photo by JENS SCHLUETER/AFP via Getty Images)