According to a Reuters report, Volkswagen's supervisory board has rejected CEO Oliver Blume's major restructuring strategy. The plan involved shutting down four facilities in Germany and cutting as many as 1 lakh positions. Labor representatives opposed the move, leading to a 12-7 vote against the proposal. It is worth noting that the company's governance setup provides union members and the state of Lower Saxony with a majority on the supervisory board.

by shortkt.com✓

6 घंटे पहले