Yes from the Supervisory Board to Volkswagen's cut plan. Farewell to Seat by 2029
The Supervisory Board of Volkswagen approved on Thursday evening, September 3, the drastic recovery plan presented by the CEO, Oliver Blume. The project had been rejected in...
Volkswagen's Supervisory Board has approved a drastic restructuring plan presented by CEO Oliver Blume. The plan, which had been rejected in July due to opposition from the Lower Saxony government and unions, includes 5,000 additional job cuts and the closure of four German plants. The board approved the plan unanimously in a surprise move. Volkswagen will streamline its operations, reduce its model range by around 50%, and reportedly plans to withdraw the Seat brand from the market, with its closure expected by 2029.
Written by urgent.news from Il Sole 24 Ore's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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