By Maja Kunert
Volkswagen is bracing for a far-reaching upheaval. According to Manager Magazin, citing insider sources, chief executive Oliver Blume is planning to cut up to 100,000 of the group's roughly 657,000 jobs worldwide.
That would double the previous target for job cuts. Only a few months ago, VW announced plans to axe around 50,000 positions by 2030 – a move already regarded at the time as historically significant.
Blume is said to have already presented the restructuring plan to the management board. According to a second insider, the key document deliberately contains no specific figure to leave room for how the restructuring is ultimately implemented.
Volkswagen declined to comment on the report, saying "the relevant facts of the matter will be discussed and approved by the relevant bodies. We will not pre-empt this process," according to Reuters.
