Volkswagen Plans to Cut 100,000 Jobs by 2030

Volkswagen will propose doubling job cuts to 100,000 by 2030 when its board meets July 9. The plan includes closing plants and scaling back operations—affecting roughly one-tenth of the company's global workforce. Germany's powerful works council, IG Metall union, and Lower Saxony state (which has veto authority) oppose the cuts. The move reflects Europe's broader problem: 5 million excess vehicle production slots annually.