Volkswagen plans to cut approximately 50,000 more jobs worldwide as part of its 'Future Plan 2030', a restructuring effort described as the most extensive in its history. The company's supervisory board approved the plan on Thursday. The job cuts are in response to stiff competition from Chinese automakers, high energy prices, complex vehicle portfolios, and US auto tariffs. Volkswagen stated that a fundamental adjustment of its global workforce, including management roles, will be necessary beyond existing cost-cutting programs.
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