Tens of thousands of jobs at risk as VW board meets on company's future

Volkswagen's future hangs in the balance as its supervisory board convenes Thursday to deliberate on a new business model for the automotive giant. With approximately 670,000 employees worldwide, the Wolfsburg-based company faces a critical economic juncture. The meeting comes amid protests by employees at all German sites, highlighting concerns over job security and the company's strategic direction. At the heart of the discussion is how Volkswagen will position itself moving forward and, crucially, the future of its production facilities within Germany. CEO Oliver Blume aims to reduce production capacities to align with persistently lower sales, especially in the European market. This strategic shift places tens of thousands of jobs in jeopardy. Sources indicate that the board will also address the long-term viability of four German vehicle plants. The company's efforts to streamline operations and adapt to changing market demands underscore the significant challenges facing Europe's largest automaker.