VW Group threatened to close up to three plants in Germany, but a deal with workers means those plants are safe.

Volkswagen’s employee representatives say they have reached a wage deal. The deal will ward off management proposals for plant closings in Germany and bars involuntary layoffs through 2030.

Volkswagen on Friday announced sweeping changes to its German operations, including more than 35,000 future job cuts and sharp capacity reductions in a last-gasp deal between Europe's top carmaker and unions to avert mass strikes.

Volkswagen AG managers are facing hefty pay reductions in the coming years as part of an agreement with labor to make Europe’s biggest automaker more competitive.

Volkswagen and IG Metall have made a deal to save the automaker's plants in Germany. The potential for mass layoffs and unprecedented plant closures is now over, at least until 2030, and wage cuts have been axed.

Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last-gasp deal between Europe's top carmaker and unions on Friday to avert mass strikes.

Volkswagen is cutting manager salaries by 10% and reducing jobs by over 35,000 to address production capacity and avoid strikes.