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Volkswagen CEO Considers Bypassing Board on Cost Cuts and Mass Layoffs

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Sig3.40Sen-3.93Env0.00Soc-3.93Gov-4.03

Volkswagen CEO Oliver Blume presented a cost-cutting plan to the supervisory board this summer that would double job losses to as many as 100,000, expecting it to be rejected. With worker representatives holding half the seats and local government swing votes, he is now considering a hostile move—taking the plan straight to shareholders—if factions can’t agree at a Friday meeting.

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