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    "headline": "Volkswagen Board and Employees Agree on Major Cost-Cutting Plan",
    "dek": "Volkswagen's supervisory board approved a plan to cut 100,000 jobs globally to improve profitability.",
    "prose": "The Volkswagen supervisory board approved the management's restructuring plan on September 4, 2026, ending a dispute between the board, employees, and Lower Saxony. [^1]\n\nVW owner families Porsche and Piëch, who hold more than half of the voting shares, are applying pressure for hard cuts before a critical supervisory board meeting. [^2]\n\nRegarding four German plants in Emden, Hannover, Neckarsulm, and Zwickau, the agreement states that no competitive succession is guaranteed between 2031 and 2034, implying some may close. [^3]\n\nThe approved plan allows the management to cut 100,000 jobs globally, whereas trade unions and Lower Saxony had previously rejected cuts exceeding 50,000 positions. [^4]\n\nVolkswagen aims to increase its return on equity to 9 percent, up from the current 3 percent, by reducing the number of vehicle models and reducing stakes in subsidiaries. [^5]\n\nCEO Oliver Blume presented a sanitation plan on July 9 that includes massive job cuts and deems the plants in Hannover, Neckarsulm, Zwickau, and Emden uncompetitive. [^6]\n\nThe plan proposes spinning off the Volkswagen brand and the component division into separate subsidiaries and converting the conglomerate into a holding company. [^7]",
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