06:54 AM EDT, 08/25/2026 (MT Newswires) -- Volkswagen (VOW.F, VOW3.F) is looking to Germany for half of its planned additional job cuts, Bloomberg News reported Tuesday, citing its Chief Executive Officer Oliver Blume. Speaking to workers at the carmaker's main factory in Wolfsburg, Germany, Blume said the cuts will address the company's fixed costs that run 30% higher than competitors', while noting that the often-cited 50,000 job cuts are a theoretical calculation rather than a fixed target.

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