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Volkswagen’s board has approved a sweeping restructuring that includes the loss of 50,000 jobs and is expected to end vehicle production at four German plants. The plan responds to falling profitability, intense competition in China, high European manufacturing costs and tariffs.
Read analysis ↗Volkswagen’s Supervisory Board unanimously approved the Future Plan 2030, which says a group-wide workforce adjustment of approximately 50,000 positions, including management roles, will be necessary. The plan also targets a smaller model portfolio, leaner structures and lower European capacity; future production allocation for Emden, Zwickau, Hanover and Neckarsulm is not currently secured for staggered periods from 2031 to 2034.
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