https://www.live-feeds.com/feed/vw-s-surprise-job-slashing-deal-is-a-big-win-for-its-bossesContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/vw-s-surprise-job-slashing-deal-is-a-big-win-for-its-bosseshttps://www.live-feeds.com/feed/vw-s-surprise-job-slashing-deal-is-a-big-win-for-its-bosses#u58364Sat, 05 Sep 2026 18:40:45 +0000Volkswagen is slashing its workforce by 50,000 to 100,000 jobs and closing four plants to reduce costs. The board approved these measures alongside a plan to cut half of the company's vehicle lineup. Market reaction was positive, with shares jumping 5% following the announcement. CEO Oliver Blume is leading the overhaul to address competition from China and the impact of tariffs. While the board has approved the immediate cuts, some of the most difficult decisions regarding the turnaround are deferred until 2027.Why it mattersThe automaker faces intense pressure from Chinese competitors a