Volkswagen’s core group is expected to reduce management positions and streamline production to achieve cost savings of 1 billion euros by 2030. The company is reducing its board members by almost one third by 2026 and integrating fundamental activities such as development, procurement, and production into its headquarters. Volkswagen is also organizing its manufacturing plants into five geographic areas to optimize production. Volkswagen is expected to cut 35,000 jobs in Germany due to low growth in the industry, stiff competition posed by China, and rising expenses.
VW Brands to Cut Board Roles in Push to Save 1 Billion Euros
