Volkswagen aims to cut 50,000 jobs by 2030

Volkswagen announced that it plans to cut 50,000 jobs by 2030, citing its "strained and tight" financial situation and expectations of a deteriorating automotive industry by 2026. CEO Oliver Blum emphasized the need to develop a business model to achieve the company's goal of becoming "the most attractive in the world" by the end of the decade, with a target to achieve a return on sales between 8 and 10 percent.

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