Volkswagen has announced a deal with European unions to avoid factory closures in Germany and massive strikes. As part of the agreement, more than 35,000 jobs will be eliminated in a “socially responsible” manner by 2030,

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 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 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 on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.

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