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Market Chatter: Volkswagen CEO to Reportedly Face Works Council on Planned Job Cuts

MT Newswires·07/17/2026 05:01:28
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05:01 AM EDT, 07/17/2026 (MT Newswires) -- Volkswagen (VOW.F) CEO Oliver Blume will face the works council in three extraordinary staff assemblies, where he will likely discuss proposals to cut up to 140,000 jobs globally, Reuters reported Friday. The report, citing an update from the works council sent to employees, said a meeting will be held Aug. 25 at the company headquarters in Wolfsburg, Germany. Blume is also set to attend meetings on Aug. 26 at the factories in Emden and Zwickau, two of the plants in danger of closure. Volkswagen did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)