Germany's Government Contemplates Support for Volkswagen Amid Job Cut Threats

Germany's Vice-Chancellor, Robert Habeck, revealed that the government is exploring ways to support Volkswagen, following the automaker's announcement that significant cost cuts are necessary. Volkswagen cites high costs, low productivity, and stiff competition as reasons for the potential job cuts.

Germany's government is considering measures to support Volkswagen, Economy Minister and Vice-Chancellor Robert Habeck disclosed on Thursday. This comes in response to job cut threats at the nation's largest car manufacturer.

Earlier this month, Volkswagen announced plans to significantly cut costs at its primary brand in Germany due to high operational costs, low productivity, and intense competition.

"VW is of central importance to Germany," Habeck stated to reporters while announcing his visit to a VW plant in Emden on Friday.

(With inputs from agencies.)