Volkswagen (XTRA:VOW3) Halves Models And Cuts Production As Labor Opposition Builds

Volkswagen announced a major restructuring plan that includes halving its model lineup and cutting global production.

The company is targeting cost efficiency and a simpler product range in response to weaker demand in key markets, including China.

Labor unions have protested the plan, which could affect up to 100,000 jobs, and supervisory board labor representatives have raised internal objections.

The restructuring marks a material shift in Volkswagen’s direction, with potential...