Volkswagen approves 50,000 job cuts and puts four German plants at risk
Volkswagen's supervisory board approved a restructuring plan on Thursday that will cut 50,000 jobs through 2030. The company said it cannot guarantee the continuity of four German plants in Emden, Zwickau, Hannover and Neckarsulm between 2031 and 2034, citing excess production capacity of 500,000 vehicles annually in Europe.
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