Surprising agreement at VW: Supervisory board unanimously approves plan of the executive board
For days it looked like there would be an escalation, but now it has been averted at the last minute. By 2030, Europe's largest car manufacturer will cut a further 50,000 jobs. There is still no final result on another particularly critical point.
Volkswagen's supervisory board has unanimously approved the company's future plan, which includes cutting 50,000 jobs by 2030. The plan aims to achieve a 9% operating profit margin by 2030, up from 4% currently, through "competitive costs, significantly more efficient structures and a sustainable improvement in profitability". The company may close factories in Emden, Zwickau, Hannover, and Neckarsulm, but alternative uses for the sites are being explored. Volkswagen will invest €135 billion in assets and research and development between 2027 and 2031.
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