Volkswagen plans sweeping overhaul in response to crumbling business model, sources say
26/06/2026 09:59
Volkswagen plans sweeping overhaul in response to crumbling business model, sources say BERLIN, June 26 (Reuters) - Volkswagen VOWG_p.DE, Europe's largest carmaker, is planning a major overhaul that could result in the closure of underutilised German factories and nearly double currently planned job cuts over the medium-term, two people familiar with the matter said.
Members of Volkswagen's supervisory board have been informed of the plans, the people said, adding the restructuring is going to be discussed at a July 9 meeting of the committee.
(Reporting by Christina Amann, writing by Christoph Steitz, editing by Thomas Seythal)
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