AUTO · VERIFIED DEVELOPMENT
Volkswagen Supervisory Board Approves Plan to Slash Models and Reduce Workforce
WHY IT MATTERS
The reduction in workforce and models will likely have a significant impact on the German manufacturing sector, with potential job losses and economic consequences for local communities.
What happened
Volkswagen's supervisory board has approved a plan to reduce its workforce by 100,000 and slash models by 2030. The plan, first reported in June by Manager Magazin, aims to close four factories in Germany.
This move is part of Volkswagen's efforts to transform its business and meet the growing demand for electric vehicles. The company will now focus on producing more sustainable and environmentally friendly models, which will likely lead to job losses in the manufacturing sector.
The exact timeline for the implementation of the plan is unclear, but it is expected to be completed by 2030. Volkswagen's CEO, Oliver Blume, has been pushing for this transformation, and the supervisory board's approval is a significant step towards achieving this goal.
PRIMARY SOURCES
Volkswagen Superviosory Board Approves Plan To Slash Models & Reduce Workforce By 100,000
CleanTechnica · Steve Hanley · Discovery and factual synthesis only; publisher copyright terms apply