Volkswagen's surprise turnaround deal averts showdown as job cuts loom — Live Feedhttps://www.live-feeds.com/feed/volkswagen-s-surprise-turnaround-deal-averts-showdown-as-job-cuts-loomContinuously updated, source-cited coverage. Volkswagen board approves 50,000 job cuts and plant closureshttps://www.live-feeds.com/feed/volkswagen-s-surprise-turnaround-deal-averts-showdown-as-job-cuts-loomhttps://www.live-feeds.com/feed/volkswagen-s-surprise-turnaround-deal-averts-showdown-as-job-cuts-loom#u58228Sat, 05 Sep 2026 15:37:08 +0000Volkswagen is executing a radical overhaul to reduce costs, with the board approving 50,000 additional job cuts and the closure of 4 plants. The company plans to slash half of its vehicle lineup as part of the largest restructuring in its history. While a surprise turnaround deal has eased the immediate crisis and provided a win for management, some critical decisions have been deferred until 2027. CEO Oliver Blume led the effort to secure approval for these drastic measures to stabilize the embattled carmaker.Why it mattersThe automotive industry is facing severe cost pressures and a shift to