Overview
- The proposal reported on Friday would cut up to 100,000 roles globally as part of a sweeping restructuring led by CEO Oliver Blume to sharply lower costs and raise profitability.
- Confidential documents first reported by Manager Magazin name four German sites under review — Hanover, Zwickau, Emden and Audi’s Neckarsulm — actions that would put more than 45,000 jobs at risk once current model runs end.
- The blueprint would trim planned five‑year investment by roughly 15% to just over €130 billion and would separate the core Volkswagen passenger brand from its parts operations into distinct entities.
- Volkswagen has not confirmed plan details but said far‑reaching change is needed; the works council, IG Metall and the state of Lower Saxony have pledged to resist and Germany’s co‑determination rules give workers heavy influence over board decisions.
- Investors reacted negatively with shares falling and all eyes now on the July 9 supervisory‑board meeting, where approval would trigger tense negotiations and could reshape Germany’s EV capacity and local economies.