Volkswagen weighs turnaround plan amid 50,000 job cuts
Volkswagen is negotiating a turnaround that could involve up to 50,000 job losses, with tensions rising among management, unions, and state owners ahead of a September 4 supervisory board meeting. German state leaders Olaf Lies and Michael Kretschmer are urging a swift, balanced agreement to protect German production and workers, including at sites like the Zwickau EV plant, amid tariffs, weak demand, and rising Chinese competition.
Business · 6 sources · Aug 31, 2026Read itThe journal
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About Olaf Lies
Olaf Lies is a German politician who has served as Minister President of Lower Saxony and leader of the Social Democratic Party of Germany in Lower Saxony since May 2025. He has been a Member of the Landtag of Lower Saxony for Friesland since 2008 and previously held several cabinet positions in the state government of his predecessor, Stephan Weil.
Everything about Olaf Lies →- Occupation
- politician
- Position held
- member of the Landtag of Lower Saxony, Member of the Bundesrat of Germany, deputy member of the Bundesrat of Germany, Minister-President of Lower Saxony
- Citizenship
- Germany
- Born
- May 8, 1967