Volkswagen approves adjustment plan: it will cut 50,000 jobs and put four German plants in the air
The Supervisory Board of the Volkswagen Group approved this Thursday unanimously the adjustment plan of the Management Board to transform the company and improve its efficiency and competitiveness, without specifying whether or not it will affect the Spanish brand Seat, the company reported in a statement.
The Volkswagen Group's Supervisory Board has unanimously approved the Management Board's adjustment plan, called Plan de Futuro 2030, to transform the company and improve its efficiency and competitiveness. The plan involves eliminating 50,000 jobs and may affect four German plants: Emden, Zwickau, Hannover, and Neckarsulm. Volkswagen aims to reduce its model range by 50% by 2035 and focus on more profitable vehicles, with a goal of achieving an operating margin of 9% by 2030.
The plan also includes investing billions to make its iconic brands more attractive and competitive.
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