Volkswagen weighs turnaround plan amid 50,000 job cuts
Volkswagen is negotiating a turnaround that could involve up to 50,000 job losses, with tensions rising among management, unions, and state owners ahead of a September 4 supervisory board meeting. German state leaders Olaf Lies and Michael Kretschmer are urging a swift, balanced agreement to protect German production and workers, including at sites like the Zwickau EV plant, amid tariffs, weak demand, and rising Chinese competition.
Business · 6 sources · Aug 31, 2026Read itThe journal
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About Michael Kretschmer
Michael Kretschmer is a German politician of the Christian Democratic Union (CDU) who has been serving as Minister President of Saxony since December 2017. Since 2022, he has been one of four deputy chairs of the CDU, under the leadership of chairman Friedrich Merz.
Everything about Michael Kretschmer →- Occupation
- politician, engineer
- Position held
- member of the German Bundestag, Minister-President of Saxony, Member of the Bundesrat of Germany, member of the German Bundestag
- Citizenship
- Germany
- Born
- May 7, 1975
- Website
- http://www.michaelkretschmer.de/