Volkswagen Board Approves Plan to Cut 50,000 Jobs in Major Restructuring

VW's CEO Wins Backing for Turnaround Plans

Europe's largest carmaker Volkswagen plans to slash an additional 50,000 jobs as it struggles to compete with cheaper Chinese rivals. Melanie Boeff explains. (Source: Bloomberg)

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UK car sales hit eight-year high in August; Volkswagen approves another 50,000 job cuts – business live

Rolling coverage of the latest economic and financial news Elsewhere in the car sector, Volkswagen’s supervisory board has agreed to back a sweeping overhaul that will cut another 50,000 jobs and could lead to plant closures. WV announced last night that “after intense and constructive discussions”, the Supervisory Board has unanimously approved the comprehensive Future Plan 2030 drawn up by chief executive Oliver Blume. “The Supervisory Board has unanimously approved the Executive Board’s Fu...

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Volkswagen approves turnaround plan with 50,000 extra job cuts - thetimes.com

Volkswagen approves turnaround plan with 50,000 extra job cuts  thetimes.com

Volkswagen jumps 6% on plans to cut 50,000 jobs amid tariffs, China competition

Volkswagen shares jumped on Friday after it announced plans to slash a further 50,000 jobs as part of its transformation plan.

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The deal on the biggest restructuring in the group’s history includes a further 50,000 job cuts, bringing the total agreed to 100,000,

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Volkswagen’s stock gets boost from plan to double job cuts to 100,000

The German car giant’s supervisory board unanimously approved a plan which envisaged slashing about 50,000 positions.

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VW’s surprise restructuring agreement boosted the shares, closing Friday up 6.23%. Investors had expected a VW supervisory board fudge and were surprised by an agreement.

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Volkswagen to cut up to 50,000 jobs amid growing Chinese competition

Volkswagen has been under unprecedented pressure to restructure the business model that underpinned its success for decades

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‘Much better than feared outcome’: Volkswagen shares jump 6% after revealing plan to reduce workforce by 50,000—and phasing out four factories

The cost cutting measures are aimed at confronting challenges which include Chinese competition and US tariffs.

By The Associated Press, David McHugh

Volkswagen to cut another 50,000 jobs as part of its biggest restructuring plan

As part of the plan, Volkswagen would cut its workforce by another 50,000 and phase out four German factories to tackle costly excess capacity.

VW restructuring has limited impact on Swiss companies

Swiss suppliers to the automotive sector are expected, for the time being, to escape the worst of the major restructuring announced by the German giant Volkswagen. The Bern-based manufacturer Feintool, however, could be more exposed than other companies. The Lyss-based company – which manufactures, amongst other things, components for car powertrains and seats, as well as parts for electric motors and batteries – is among those most at risk. The firm is the most directly dependent on producti...

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Biggest restructuring deal ever eases crisis at Volkswagen

Volkswagen shares hit an 11-week high Friday after the supervisory board of ⁠Europe's largest automaker struck an ⁠ambitious turnaround agreement that put the focus on sweepin...

Volkswagen plans 50,000 more global job cuts under Future Plan 2030 - Nation Thailand

Volkswagen plans 50,000 more global job cuts under Future Plan 2030  Nation Thailand

Volkswagen board approves plan to cut another 50,000 jobs - the-star.co.ke

Volkswagen board approves plan to cut another 50,000 jobs  the-star.co.ke

Volkswagen board approves plan to cut another 50,000 jobs

The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of the biggest restructuring in the group's almost nine-decade history.

By Emmanuel Tetteh