VW chief confirms plan to cut 50,000 jobs as board rejects plant closures

Published July 13, 2026 · Category: Markets

Overview

Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad support

• Business live – latest updates

The chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany.

Details

Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives, approximately 150 pages and 45 individual resolutions” for change.

Source

Originally published at www.theguardian.com.

Related Articles

• ‘We are driving in the fog’: Hundreds of economists admit they’re flying blind on AI
• Economists are coming around to the idea that AI really is killing jobs
• Elon Musk's startling claim to SpaceX investors