Overview
- The supervisory board voted unanimously on Thursday to approve the Sanierungs-/Zukunftsplan, formally endorsing a corporate turnaround led by CEO Oliver Blume.
- The plan calls for roughly 50,000 global job reductions including management roles and aims to cut the number of models by about 50 percent to lower complexity and costs.
- VW set financial targets that include lowering planned volume to about nine million vehicles, aiming for roughly a 9 percent operating margin by 2030, and reducing capex and R&D spending by around €50 billion in planning.
- Four German plants — Emden, Zwickau, Hannover and Neckarsulm — were flagged as having no competitively secured follow-up allocation for 2031–2034 and will have alternative uses and a Europe-wide production concept examined by end-June 2027.
- The board also named Erika Rasch as group HR director effective 1 October to lead implementation, and reporting has suggested but not confirmed that the Spanish brand SEAT could be discontinued by 2029.