VW chief confirms plan to cut 50,000 jobs as board rejects plant closures
Volkswagen CEO Oliver Blume has confirmed plans to cut 50,000 jobs as part of a major restructuring effort to reduce annual car production. While the board rejected plans to close specific factories, the company is moving forward with significant cost-cutting measures.
Why it matters
The restructuring of a major global automaker reflects broader economic pressures and the transition challenges facing the traditional automotive industry.
Volkswagen intends to reduce production of cars from a pre-pandemic level of 12m cars a year to 9m./Getty Images Volkswagen intends to reduce production of cars from a pre-pandemic level of 12m cars a year to 9m./Getty Images Volkswagen (VW) VW chief confirms plan to cut 50,000 jobs as board rejects plant closures Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad support
Prefer the Guardian on Google The chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany .
Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives, approximately 150 pages and 45 individual resolutions” for change.
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