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Update: Market Chatter: Volkswagen Said to Incur EUR16 Billion for Job Reductions, Plant Closures

MT Newswires·09/11/2026 02:52:54
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02:52 AM EDT, 09/11/2026 (MT Newswires) -- (Updates with Volkswagen's statement) Volkswagen (VOW.F, VOW3.F) estimates 16 billion euros in costs tied to job cuts and potential plant closures as part of its biggest-ever restructuring, Reuters reported Thursday, citing a person familiar with the matter. The German carmaker's plan to phase out production at its Emden and Zwickau sites would cost 1 billion euros each, while the closures of Neckarsulm and Hanover plants would each incur 2 billion euros. Volkswagen is also set to cut 50,000 more positions than previously planned. Volkswagen declined to comment when reached by 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.)