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Volkswagen sets aside up to €10bn for job-cut restructuring

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Volkswagen has earmarked restructuring costs of up to €10bn through 2030 to cut around 60,000 jobs, with roughly half in Germany, under a supervisory board-approved programme. The figure covers severance and social plans but excludes potential factory shutdown costs if at-risk sites close between 2031 and 2034. CEO Oliver Blume warned of possible losses from 2030 and debt pressure, aiming for a 9% return on sales.

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