Employees gather on the factory premises during an information event organised by the Works Council of Volkswagen Saxony in Zwickau, eastern Germany on October 28, 2024, after auto giant Volkswagen announced plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive. 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)

Employees load and unload Volkswagen cars at the plant's premises in Zwickau, eastern Germany on October 28, 2024, after auto giant Volkswagen announced plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive. 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)

An employee of the Volkswagen plant in Zwickau stands next to the VW logo 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)

Employees load and unload Volkswagen cars at the plant's premises in Zwickau, eastern Germany on October 28, 2024, after auto giant Volkswagen announced plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive. 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)

Employees of the Volkswagen plant in Zwickau demonstrate with a placard representing a red clenched fist 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)

Employees demonstrate on the factory premises during an information event organised by the Works Council of Volkswagen Saxony in Zwickau, eastern Germany on October 28, 2024, after auto giant Volkswagen announced plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive. 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)

A participants lifts his right fist as employees gather on the factory premises during an information event organised by the Works Council of Volkswagen Saxony in Zwickau, eastern Germany on October 28, 2024, after auto giant Volkswagen announced plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive. 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)

Employees demonstrate with banners reading 'Hands off of our collective agreement' (back) and 'Our plant, our region, our future' (front) on the factory premises during an information event organised by the Works Council of Volkswagen Saxony in Zwickau, eastern Germany on October 28, 2024, after auto giant Volkswagen announced plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive. 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)