Volkswagen Targets 20% Cost Cuts by 2028, 35,000 Germany Jobs to Go by 2030

• Volkswagen aims for a 20% cost reduction across all brands by 2028 to counter higher costs, a tough Chinese market, and US tariffs.
• CEO Oliver Blume and finance chief Arno Antlitz presented a "massive" savings plan to top executives.
• The company has already achieved double-digit billion-euro savings from a program launched three years ago, offsetting geopolitical headwinds.
• Volkswagen plans to cut 35,000 jobs in Germany by 2030, including reducing management positions and consolidating production.
• Plant closures and operational layoffs have been ruled out by an agreement with the works council chief, Daniela Cavallo.