Volkswagen's Future Plan 2030 includes 50,000 job cuts and possible factory closures

Volkswagen approved its Future Plan 2030, targeting a nine percent operating margin by 2030 and cutting 50,000 jobs, including management roles. The company cites intensifying competition, shifting demand, and technological changes as reasons for the workforce adjustment. It is also considering repurposing or closing European factories and reducing its model range by half, with reports suggesting the retirement of the Seat brand.