Volkswagen’s supervisory board unanimously approved cutting a further 50,000 jobs, bringing planned reductions to 100,000, and left four German plants without secured production from 2031 to 2034. Half that board represents the workforce and Lower Saxony holds 20% of the voting rights under the 1960 Volkswagen Law.
Volkswagen will cut another 50,000 jobs. Its supervisory board approved the plan unanimously on Thursday and the shares rose 8%, CNBC reported.
That takes the total to 100,000 alongside cuts already approved. The stock topped the Stoxx 600 and is still down 21% this year. Management roles are included.
Future Plan 2030 runs to 12 initiatives, the company said. It calls the programme the most strategically profound transformation in its 89-year history, and will halve the model range by 2035.
Four German plants are named. Emden, Zwickau, Hanover and Neckarsulm have no secured production allocation from 2031 to 2034, and alternative uses are being assessed.
