BERLIN, Sept. 4 (Xinhua) -- Volkswagen approved a transformation plan Thursday that will cut another 50,000 jobs and halve its model portfolio by 2035.
The Supervisory Board of the Volkswagen Group unanimously approved the Executive Board's Future Plan 2030, which includes "a Group-wide workforce adjustment of approximately 50,000 positions" in addition to 50,000 job cuts already under way, the group said in a statement.
"By 2035, the Volkswagen Group will streamline its model portfolio by around 50 percent and reduce its offering complexity by around 75 percent," the statement said.
The company did not provide further details on the timing of the job cuts or how the cuts would be distributed across its brands and regions.
"This is a strong signal for the future of the Volkswagen Group. We are taking responsibility for our entire workforce, for our partners and for industrial jobs worldwide," Oliver Blume, CEO of Volkswagen Group, was quoted as saying in the statement. ■