Business
Volkswagen Stock Rallies After Unexpected Approval for Restructuring Plan
Volkswagen shares are charging higher after the German automaker’s supervisory board surprisingly approved CEO Oliver Blume’s radical restructuring package—one that includes another 50,000 job cuts.
The approval comes just two months after the often-fractious supervisory board rejected the plan, triggering high-profile wrangling between Blume’s team, the company’s powerful union representatives and its state shareholders.
The package, designed in part to counter Trump’s tariffs and fierce Chinese competition, was widely lauded by analysts Friday:
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