Volkswagen to cut up to 50,000 jobs amid growing Chinese competition
- Volkswagen Group is preparing to trim its vehicle range substantially while removing 50,000 roles under newly introduced corporate restructuring plans.
- The company's Supervisory Board has ‘unanimously approved’ the new ‘Future Plan 2030’ strategy as it seeks to reduce expenditure in response to rising market rivalry from China.
- Consequently, Volkswagen intends to contract its car model lineup by roughly 50 per cent.
Unverified
- Volkswagen Group is preparing to trim its vehicle range substantially while removing 50,000 roles under newly introduced corporate restructuring plans.
- The company's Supervisory Board has ‘unanimously approved’ the new ‘Future Plan 2030’ strategy as it seeks to reduce expenditure in response to rising market rivalry from China.
- Consequently, Volkswagen intends to contract its car model lineup by roughly 50 per cent.
Sources: The Independent