Volkswagen to cut 100,000 jobs, close four plants

Volkswagen is reportedly preparing for the most significant restructuring in its history, with plans to eliminate up to 100,000 jobs globally and close four manufacturing plants in Germany. The proposals, detailed in a report by Manager Magazin, would far exceed the company's previously announced target of cutting 50,000 positions in Germany by 2030.

The reported plan, spearheaded by CEO Oliver Blume, includes ending vehicle production at Volkswagen plants in Hanover, Zwickau, and Emden, as well as at Audi's facility in Neckarsulm. Production would be phased out as current model programs conclude. The company is also said to be planning a 15 percent reduction in capital expenditure over the next five years, lowering total investment to just over 130 billion euros.

A Volkswagen spokesperson declined to comment on what were described as confidential internal documents but acknowledged the need for significant change. The spokesperson stated that the entire group must undergo far-reaching transformation to improve competitiveness, requiring a sharper focus and more rigorous cost discipline.

The proposals face immediate and fierce opposition from labor representatives. The company's...