IJR News — today's news from every sideElena Vasquez Closing or scaling back four German plants shows how serious the overcapacity problem has become for the whole industry. Volkswagen weighs turnaround plan amid 50,000 job cuts — Aug 29, 2026Volkswagen is negotiating a turnaround that could involve up to 50,000 job losses, with tensions rising among management, unions, and state owners ahead of a September 4 supervisory board meeting. German state leaders Olaf Lies and Michael Kretschmer are urging a swift, balanced agreement to protect German production and workers, including at sites like the Zwickau EV plant, amid tariffs, weak demand, and rising Chinese competition.
