Volkswagen board approves future plan 2030 after unanimous vote
Volkswagen's supervisory board unanimously approved CEO Oliver Blume's Future Plan 2030 after management conceded on four German plants and dropped a proposed carve-out, securing a 20-0 vote in a board split that includes employee representatives and the state of Lower Saxony. The plan calls for roughly 50,000 additional job cuts, about a 50% smaller model portfolio by 2035, a 75% cut in offering complexity, a 9% operating margin target by 2030 on about nine million vehicles, and €135 billion of capex and research spending for 2027–31. The board also limited reserved approval rights, but final decisions on four plants are deferred to June 2027.
Supervisory board approved Future Plan 2030 with concessions enabling planned cuts.
Context
German co-determination law gives workers half the supervisory board seats and Lower Saxony holds about 20% of Volkswagen. Three prior CEOs left after similar reform attempts. The board's approval buys political time but leaves decisions…
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