Volkswagen approves plan to cut 50,000 more jobs worldwide
The Supervisory Board of the Volkswagen Group unanimously approved the Executive Board's Future Plan 2030, which includes "a Group-wide workforce adjustment of approximately 50,000 positions" in addition to 50,000 job cuts already under way, the group said in a statement.
Volkswagen has approved a comprehensive transformation plan that will result in the loss of 50,000 more jobs worldwide, bringing the total to 100,000, according to a statement released on Thursday. The Supervisory Board of the Volkswagen Group unanimously approved the Executive Board's Future Plan 2030, which outlines the workforce reduction and a significant reduction in the company's model portfolio by 2035.
Currently, the group has already implemented 50,000 job cuts as part of the plan. By 2035, the Volkswagen Group aims to halve its model portfolio by around 50 percent, reducing the complexity of its offerings by approximately 75 percent. The company has not disclosed the timing of the remaining job cuts or how they will be distributed across its various brands and regions.
Oliver Blume, CEO of the Volkswagen Group, stated in the statement that this announcement sends a strong message about the company's future commitment to its workforce, partners, and industrial jobs globally.
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