Volkswagen's largest restructuring risks 50,000 jobs

Volkswagen announced its approval of a wide restructuring plan that includes laying off 50,000 employees worldwide to prevent a potential financial crisis. This move is part of its efforts to tackle tariffs, excess production capacity, and competition from Chinese automakers. The plan involves studying the closure and partial division of some German factories, which will gradually cease production of certain models by 2031, along with reducing the influence of the supervisory board and cutting back on union power. Following the announcement, the company's shares rose by 7.9%, amid pressures from the American and Chinese markets, which are negatively affecting the company's profits.

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