The board's unanimous approval of Chief Executive Oliver Blume's plan, dubbed Future Plan 2030, will double planned job cuts to 100,000 and slash the model lineup by roughly half. ^[1] Volkswagen shares rallied more than 4% in early German trading on Friday after the automaker's supervisory board approved a sweeping restructuring plan. ^[2] Volkswagen preferred shares rose by nearly 10% to reach the top of the DAX index following the agreement on a savings package. ^[3] The company intends to eliminate 50,000 jobs, including management positions, on top of roughly 50,000 cuts already agreed to over the past two years. ^[4] Volkswagen's operating margin stood at just 3.8% in the first half of the year amid U.S. import tariffs, sluggish demand in Europe, and mounting pressure from Chinese competitors. ^[5] Porsche SE, the major shareholder of Volkswagen, saw its shares rise by more than 6% in the MDAX ahead of the weekend. ^[6] The savings plan includes the elimination of 50,000 additional positions and puts four plants at risk. ^[7] The supervisory board of Volkswagen unanimously approved the savings package after weeks of disputes and uncertainty. ^[8]