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 its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs through 2030. The agreement includes provisions for VW XE:VOW to shed more than 35,000 ...

Here are the main points of a deal struck on Friday between Volkswagen and unions on the carmaker's German sites and jobs. The agreement followed more than 70 hours of talks and averted the spectre of strikes at Europe's largest carmaker.