Volkswagen flags 50,000 job cuts across group as board approves turnaround plan
Volkswagen’s supervisory board on Thursday approved a transformation plan that will include cutting another 50,000 jobs in its attempt to counter painful tariffs, overcapacity and aggressive Chinese rivals. The plan, the most extensive restructuring in Volkswagen’s 89-year history, includes exploring alternatives for four German plants that will eventually run out of models during the next decade. It…

