11:59 - 4.09.2026

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September 4, Fineko/abc.az. Volkswagen’s supervisory board has unanimously approved the most extensive transformation plan in the automaker's 89-year history, which includes cutting an additional 50,000 jobs globally.

This second wave comes on top of a 50,000-job reduction program already underway as the company battles painful U.S. tariffs, European overcapacity, and aggressive competition from Chinese rivals.

Dubbed the "Future Plan," the strategy aims to streamline VW's conglomerate structure, slash its vehicle lineup by up to 50% by 2035, and review the future model allocations for four major German plants (Emden, Zwickau, Neckarsulm, and Hannover). While the compromise averted immediate plant closures and compulsory layoffs until 2030, it grants CEO Oliver Blume broader authority to enforce efficiency goals. Following the announcement, VW's Frankfurt-listed shares surged 7.9%.