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Euronews
Euronews
Doloresz Katanich

Volkswagen unveils four-year plan but lacks backing for overhaul with up to 100,000 job cuts

Volkswagen Oliver Blume

Volkswagen's labour representatives on the supervisory board blocked a sweeping restructuring plan at a meeting on Thursday, Reuters reported on Friday, citing company sources.

This comes as Europe's largest carmaker wrestles with falling profits, rising costs and competition. Volkswagen said on Friday that its global vehicle deliveries fell 8.6% year on year in the second quarter, a steeper decline than in the previous quarter.

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