Volkswagen announced a sweeping restructuring plan that will see roughly half of its model range discontinued and up to 50,000 positions eliminated worldwide. The German automaker says the cuts are essential to curb mounting costs, accelerate its shift toward electric vehicles and restore profitability after a series of setbacks, including the diesel‑emissions scandal and slower sales in key markets. Executives outlined a timeline that will see the reductions rolled out over the next few years, with a focus on consolidating platforms, streamlining production and trimming overhead. The move is expected to reshape the company’s global footprint, prompting concerns among workers, suppliers and investors about the social and economic impact of such a massive downsizing.
Volkswagen to slash half its vehicle lineup and 50,000 jobs in cost-cutting effort CNN
