Volkswagen's rescue plan shifts into first gear
Oliver Blume does not explain how he will go from a 2.8% margin to the 9% he promises for 2030.
Volkswagen's supervisory board has approved a restructuring plan that includes 100,000 job cuts. The plan aims to reduce the number of models produced, close plants, and cut spending in other areas. If successful, the plan could result in a 9% operating margin for the company. Oliver Blume, CEO, is leading the effort to turn the company around.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
