<ul><li>Volkswagen has reached an agreement with its works council to protect its German workforce in the immediate future.</li><li>The agreement will result in 35,000 jobs being lost by 2030 due to production changes.</li><li>The car giant predicts it will save €1.5 billion (A$2.5 billion) in labor costs annually.</li><li>Production changes include moving the Volkswagen Golf hatchback and wagon production from Germany to Mexico.</li></ul>

Volkswagen announces future layoffs, production changes to cut costs

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