VW chief confirms plan to cut 50,000 jobs as board rejects plant closures

Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad support Business live – latest updates The chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany. Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives, approximately 150 pages and 45 individual resolutions” for change. Continue reading...