Escalation prevented: These are the key points in the VW austerity package
The showdown at VW was expected on Friday. Now the Supervisory Board has met surprisingly early and reached an agreement. It brings tough austerity measures for the workforce.
Volkswagen's supervisory board has unexpectedly agreed on a comprehensive package of its 2030 future plan, with all parties voting in favor. The plan includes the elimination of 50,000 jobs worldwide, including management positions, as part of a major restructuring program. Four German production sites - Emden, Zwickau, Hannover, and Audi's Neckarsulm plant - face uncertainty, with a concept for a sustainable production structure to be presented by June 2027.
The company aims to achieve an annual production of 9 million vehicles and an operating return on sales of 9% by 2030, with planned investments of €135 billion from 2027 to 2031.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
