Volkswagen jumps after board approves transformation plan, deeper job cuts

Porsche Automobil Holding SE

04/09/2026 07:13

** Shares in Volkswagen VOWG_p.DE rise 7% in early Frankfurt trade after its supervisory board approved on Thursday a transformation plan, targeting 9% operating margin by 2030 and a further 50,000 job cuts
** The plan targets an operating margin of 9% by 2030, up from 3.8% in the first six months of 2026
** A local trader says the margin target implies operating result of about €31 billion ($36 billion), which is well above analyst estimates
** J.P.Morgan says the plan is a positive step towards improving the company's competitiveness at a point in time of large disruption across auto markets
** Shares of Porsche SE PSHG_p.DE, Volkswagen's largest shareholder, rise 3.7%
($1 = 0.8601 euros)

(Reporting by Amir Orusov)
((Amir.orusov@thomsonreuters.com))