Germany's Volkswagen Group intends to significantly step up its cost-cutting measures, the German-language Manager Magazin reported on Friday.
Up to 100,000 jobs could be lost worldwide, twice as many as previously planned, Manager Magazin reported, citing insider sources. Four plants in Germany are facing closure.
The plans are part of the new 2030 strategy, which the executive board discussed on Wednesday. The final decision now rests with the supervisory board, which is due to discuss the matter on July 9.
According to the report, the four plants that could be closed are the VW plants in Hanover, Zwickau and Emden, as well as the Audi site in Neckarsulm.
The magazine did not specify a concrete date for the measures. According to the report, they could be closed "in the medium term."
An employment guarantee, agreed with the IG Metall trade union, remains in place at the group's German sites until at least 2030. Volkswagen has already announced the loss of 50,000 jobs across the group by 2030, 35,000 of which are at the core VW brand.
