reuters.com

Volkswagen Supervisory Board to Vote on Biggest Restructuring Plan

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Sig5.15Sen-3.25Env-0.25Soc-5.30Gov-1.70

Volkswagen’s supervisory board will vote on the automaker’s biggest restructuring, facing sharp union and Lower Saxony opposition to planned job and capacity cuts. A formal preparation company for Volkswagen is created as Qatar takes a 17% voting stake. Works council chief Bernd Osterloh steps down. Earlier talks have targeted up to 35,000 German jobs and reduced capacity to 9 million vehicles.

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