Germany

VW Approves Plan to Cut 100K Jobs by 2030

Is this a bold survival strategy or a betrayal of workers to protect shareholder profits?

3 hours ago·Updated 1 hour ago

VW Approves Plan to Cut 100K Jobs by 2030

Story

Above: Volkswagen plant in Wolfsburg, Lower Saxony, Germany, on Sept. 2. Image credit: Julian Stratenschulte/picture alliance/Getty Images

The Spin

Narrative A

The Future Plan 2030 is exactly what Volkswagen needs to survive the most turbulent period in automotive history. Cutting redundant jobs while investing in new products and technology will help the company course-correct and return to strong growth and returns. Though painful, Volkswagen's responsible leadership will not shy away from what needs to be done.

Volkswagen Group Volkswagen Group

Narrative B

Volkswagen workers are being forced to pay for their managers' mistakes and shareholders' greed. As ever, executives are slashing jobs while handing out billions in dividends in a gross misplacement of priorities. The reality is that Volkswagen will not recover through this model; rather, investment and innovation are the only path forward for the business.

World Socialist Web Site IG Metall