The board of Volkswagen has agreed to cut 50,000 more jobs by 2030 as part of a sweeping restructuring programme in an attempt to counter the impact of tariffs and competition from Chinese rivals.

Volkswagen’s board has approved a major cost-cutting plan to counter low-cost competition in China and U.S. tariffs

Volkswagen announces plans to cut 100,000 jobs by 2030, marking a historic restructuring amid economic challenges.

Volkswagen’s board backs 50,000 additional job cuts, fewer models and a smaller industrial footprint as the carmaker targets a 9% margin by 2030.