Volkswagen’s CEO Oliver Blume is pushing for drastic cost cuts—doubling planned job losses to 100,000 and risking closure of four German plants by 2030—as Chinese EV makers surge into Europe with affordable, tech-savvy models. While earnings show some stability, VW scrapped its sales growth target and lowered profit forecasts, triggering a stock dip. Tensions mount as unions resist the restructuring, and the works council demands innovation alongside cuts. With decisions looming before year’s end, VW must balance investor reassurance with employee realities amid an existential market battle.
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