Volkswagen plans 50,000 more job cuts amid restructuring

Volkswagen said it will cut around 50,000 additional jobs as part of its longterm restructuring plan, bringing total planned reductions to 100,000. The German carmaker says the changes are aimed at making the company more competitive as it faces tariff pressure, weak demand in some markets and rising competition from Chinese automakers. The company’s supervisory board approved the Future Plan 2030, which includes simplifying management, reducing its model lineup, and reviewing future production at several German plants. Volkswagen also said it plans major investments to support its brands and future growth. Shares in Volkswagen rose after the announcement, and analysts said the decision could support wider sentiment across Germany’s auto industry. Some described the move as a betterthanexpected outcome that may encourage other manufacturers to take similar steps to address excess capacity and slower growth.