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Volkswagen’s Bold Restructuring Plan
Volkswagen is facing its biggest shake-up in nearly 90 years, potentially slashing 100,000 jobs and closing four key German factories—including Audi’s Neckarsulm plant—as it battles plummeting profits, Chinese EV competition, and a sluggish global shift to electric vehicles. The plan, which would double existing cuts and break a 2030 union promise, threatens entire communities and has already sparked fierce resistance from labor unions. CEO Oliver Blume is pushing for a painful but necessary restructuring to survive, but approval hinges on navigating a hostile supervisory board and a stock…
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