Shares in Volkswagen rose on Friday following the automaker’s announcement of a sweeping restructuring plan that averts conflict with unions and the shareholder state of Lower Saxony.<\/p>\n
The company revealed on Thursday that it will cut a total of 100,000 positions by the end of the decade, marking what is likely to be the most significant restructuring in global car history. Management and trade unions approved a plan reducing an additional 50,000 roles, building upon 50,000 redundancies already agreed upon.<\/p>\n
In a statement, the Volkswagen Group\u2014which includes Audi and Porsche\u2014emphasized the need to systematically align workforce levels with economic realities. The total reduction represents approximately 15% of the company’s global workforce and surpasses the 50,000 job cuts General Motors enacted after its 2009 bankruptcy.<\/p>\n
Tensions had previously surfaced between unions and management, with workers accusing leadership of failing to communicate honestly after the cut figures were leaked to the media before being shared internally.<\/p>\n
Volkswagen also warned that the long-term future of four major German facilities in Hannover, Emden, Zwickau, and Neckarsulm remains uncertain. Closing these sites would constitute the first full-scale shuttering of Volkswagen factories in its home country.<\/p>\n","protected":false},"excerpt":{"rendered":"
Volkswagen plans to eliminate 100,000 jobs globally by 2030 in the automotive industry’s largest restructuring, threatening four German plants.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[711,67,981,478,477,10],"class_list":["post-393","post","type-post","status-publish","format-standard","hentry","category-business","tag-automotive","tag-germany","tag-jobs","tag-restructuring","tag-volkswagen","tag-world"],"_links":{"self":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/posts\/393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/comments?post=393"}],"version-history":[{"count":0,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/posts\/393\/revisions"}],"wp:attachment":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/media?parent=393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/categories?post=393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/tags?post=393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}