Volkswagen has unveiled a sweeping four-year overhaul aimed at restoring profitability, cutting costs and accelerating its EV transition after a sharp drop in earnings.
Europe's largest carmaker, Volkswagen, is considering cutting tens of thousands more jobs worldwide and shuttering up to four plants in Germany, Manager Magazin reported Friday.
Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles.
A Volkswagen spokesman said that he could not comment on confidential matters but added that the company needed to become more competitive.
"The board has repeatedly emphasised that our current business model no longer works for all our brands in its current form," he said.
