Volkswagen approves plan to cut 50,000 jobs and halve model range by 2035
This digest was compiled by AI from multiple sources — links to the originals are below.
Volkswagen Group's supervisory board unanimously approved a restructuring program that will cut about 50,000 jobs and halve its model range by 2035. The plan, called 'Future Plan – 2030', also targets a 75% reduction in vehicle configuration variants. The company will invest 135 billion euros in development and research from 2027 to 2031.
Key Facts
- Volkswagen's supervisory board unanimously approved the 'Future Plan – 2030' restructuring program.
- The plan calls for cutting about 50,000 jobs, including management positions.
- Volkswagen aims to reduce its model range by about 50% and configuration variants by 75% by 2035.
- The company will invest 135 billion euros in development and research from 2027 to 2031.
- Volkswagen targets annual sales of about 9 million vehicles and operating profit of 31 billion euros.
Restructuring Program
The supervisory board of Volkswagen Group unanimously approved the 'Future Plan – 2030' restructuring program. The company describes the program as the largest transformation in Volkswagen's history. The plan includes cutting about 50,000 jobs and radically reducing the model range. Volkswagen expects to reduce the number of models by about 50% and configuration variants by 75% by 2035. The company has not disclosed which specific vehicles will be discontinued.
Production and Investment
Volkswagen acknowledged excess capacity at plants in Emden, Zwickau, Hanover, and Audi's Neckarsulm site. The company will consider alternative uses for these facilities after 2030. Volkswagen plans to invest 135 billion euros in development and research from 2027 to 2031. Key targets include annual sales of about 9 million vehicles and operating profit of 31 billion euros. The company will focus on China, North America, and the global South, expanding exports of German-made vehicles.
1 source
Time · lag behind first