Agreement on austerity package: Volkswagen sets course for historic group restructuring
After tough negotiations, the restructuring concept is in place at VW - including the reduction of a further 50,000 jobs. IG Metall and the works council now see the management board as being responsible for finding solutions for all locations.
Volkswagen Group is planning a major overhaul, including cutting 50,000 jobs, reducing its model lineup, and holding fewer company stakes. The company's supervisory board has approved a 2030 plan, which aims to make the company more competitive and future-oriented. The plan involves streamlining the model palette by around 50% and reducing the complexity of offerings by around 75% by 2035.
Volkswagen also intends to adjust its global personnel capacities, with a focus on efficient leadership structures and shorter decision-making processes.
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.
