Volkswagen confirms cutting 50,000 jobs as part of its survival plan

Volkswagen’s Executive Board approved the “Future Plan 2030,” targeting a 9% operating margin by 2030 and calling for a “most strategically profound transformation.” The plan mandates cutting 50,000 jobs, repurposing or closing European plants whose capacity exceeds demand by over 500,000 units, and halving the model range while retiring the Seat brand, though Cupra will remain.