On the 20th local time, Volkswagen Group of Germany reached an agreement with union representatives during negotiations, which avoids factory closures and layoffs due to Operation reasons. The Volkswagen Group also stated that it hopes to lay off more than 35,000 people by 2030. This is reportedly the fifth round of negotiations between Volkswagen and the union, which lasted from the 16th to the 20th of this month. In order to save costs in response to declining profits, the Board of Directors of Volkswagen Group announced in September that it hopes to close at least three factories located in Germany, which will put tens of thousands of employees at risk of unemployment. In addition, management also plans to permanently reduce wages by ten percent, causing strong dissatisfaction among German auto workers. (CCTV News)