# Volkswagen CEO Oliver Blume is aiming to cut up to one-hundred-thousand jobs and end production at four German plants in what would be the biggest overhaul in the company’s 89-year history. Manager Magazin reported the plan would also see the carmaker cut planned investment by about 15-percent over the next five years. Blume is under pressure to revive the fortunes of the world’s No. 2 carmaker, as it battles tariffs, Chinese competition and the costly shift to electric vehicles.
CEO of Volkswagen in Germany plans to cut 100-thousand jobs in major overhaul