11:25 PM EDT, 09/03/2026 (MT Newswires) -- Volkswagen (VOW.F, VOW3.F) on Thursday unveiled a plan to cut 50,000 positions across the group, including at management levels, as part of its Future Plan 2030 strategy. The German carmaker said the job cuts are a "necessary" step in the implementation of the strategy, which the company noted is "the most extensive transformation program" in its history. Volkswagen intends to promptly start discussions with employee representatives regarding the proposed workforce adjustment. Presented by the executive board and approved by the supervisory board, the new strategy also involves a review of options for the group's German plants in Emden, Zwickau, Hanover and Neckarsulm, as well as the creation of a "sustainable and competitive" production structure for facilities across Europe by the end of June 2027. Streamlining the group structure and investment portfolio are also among the main initiatives to be carried out under the new strategy.

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