Volkswagen Plans Deep Cuts as Plant Future in Doubt

Volkswagen is weighing the future of two factories in Germany as part of a cost-cutting drive, with reports of plans to shrink its management by a quarter and cut up to 50,000 jobs. The company faces weak demand and growing competition from China, where it already produces faster and more cheaply. Ahead of a key board meeting, the CEO and labour representatives remain at odds, and workers in Zwickau fear their plant could close. Volkswagen also confirmed it will build the electric ID.Every1 in Portugal and is bringing Marianne Heiß back onto its supervisory board. Rival Hyundai is aiming to catch up with the group.