Volkswagen 100,000-job cut report links to €23 billion investment freeze
Volkswagen AG may be in for a deeper liquidity crunch than a headline figure on job cuts suggests. Manager Magazin reported that CEO Oliver Blume is targeting up to 100,000 job cuts worldwide, wants to close four German plants, and plans to trim five-year investment by about 15% to a little over €130 billion. Volkswagen would not comment on any internal documents and said the proposals would go through standard review.