Shocker Of The Day: Single Company Firing 1 Lakh Workers!

It is already known that the global job market has been witnessing significant disturbances with regard to job creation and sustenance. Now this crisis is going to get that much bigger as big companies are also resorting to job cuts and reduced human workforce.

Reportedly, Volkswagen is contemplating cuts of up to 100,000 jobs worldwide and the closure of four German plants, according to media reports .

The plants at risk are Hanover, Zwickau, Emden as over 45,000 German jobs would be affected on top of the 50,000 cuts VW agreed with unions in late 2024.

The company would also cut its five-year investment plan by roughly 15% to just over 130 billion euros. VW closed its first German factory last year after 88 years of never shutting a plant.

The fact that a single company is seriously considering the idea of firing more than one lakh employees in the next few months is an education of the crunching job market.

The consequences could be extended to other automobile engineering companies in the world as well. If other companies take inspiration from Volkswagen, which is one of the biggest car manufacturing in the world, then the physical labour also could be in serious trouble.

However, this is a matter of great concern for the human workforce unions, and it has to be seen how they would be reacting. There is a significant backlash to this effect already, and the repercussions are going to be pretty strong as well.