Hannover

Volkswagen approves plan to cut 50,000 jobs and halve its lineup, plants’ fate unclear

Volkswagen’s supervisory board has approved Future Plan 2030, a sweeping restructuring that aims to cut about 50,000 jobs, halve its model lineup, and wind down production at four German plants between 2031 and 2034 to address overcapacity. The plan carries up to €10 billion in costs, contemplates alternative uses for the affected plants, and signals a governance shift for the board as stakeholders seek to protect jobs while Bolstering global competitiveness.