VW supervisory board approves management’s cost-cutting plan
Translated from German and summarized by DistantNews. Read the original for the full story.
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Official statement
Approved/passed
- Volkswagen’s supervisory board approved a restructuring plan proposed by the company’s management board.
- The plan could involve 50,000 job cuts, including 25,000 in Germany, and the closure of four German plants.
Volkswagen’s supervisory board has approved the management board’s restructuring plan, according to the company.
The measures under consideration include cutting 50,000 jobs across Europe’s largest carmaker. Half of those positions would be eliminated in Germany.
The plan also includes the possible closure of four Volkswagen plants in Germany. Further details are expected to follow.
About this summary
Originally published by Die Zeit in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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