Volkswagen Board Put to the Test as 100,000 Job Cuts Loom and Shares Near Yearly Low
Veröffentlicht: 10.07.2026 um 00:21 Uhr, Redaktion boerse-global.de
The Volkswagen share has fallen to €71.78, losing 1.51 percent on Thursday as the company’s supervisory board gathered in Wolfsburg for a session delayed by 90 minutes. The meeting, which started at 16:00 instead of the originally scheduled 14:30, is the stage for a high-stakes showdown over a restructuring plan that would reshape Germany’s largest automaker.
Worker representatives and politicians are pushing back hard. Outside the plant gates in Emden, around 4,000 employees have already protested, while the IG Metall union has called a nationwide day of action. Lower Saxony, the state that holds a major stake and seats two representatives on the board, has made clear it will oppose any factory closures. The board’s labour-side members, together with the state’s representatives, command a majority that makes a straightforward victory for CEO Oliver Blume unlikely.
On the table is the “Group Target Picture 2030” plan, which according to reports envisions shuttering four sites — Zwickau, Emden, Hannover and Audi’s Neckarsulm plant — with closures phased from 2031 to 2034. The job cuts are staggering: up to 100,000 positions worldwide, roughly double what was originally contemplated. Around 40,000 employees work at the four threatened German factories.
Should investors sell immediately? Or is it worth buying Volkswagen?
The market has taken a dim view. At €71.78, the stock is now trading perilously close to its year low of €69.20 reached on July 1. The 50-day moving average sits at €84.41, far above the current price, and the Relative Strength Index at 31.4 signals an oversold condition. Yet no technical buy signal has materialised. Year-to-date, the shares have shed more than 32 percent.
Should the supervisory board block key elements of the package, management has a contingency plan ready. According to consistent reports, Blume could call an extraordinary general meeting, asking shareholders directly to vote on the restructuring. That step would escalate the conflict between management and the political establishment to a new level. However, insiders suggest the Plan B will not be pulled immediately after today’s session; at least two more supervisory board meetings are expected before any deadlock is declared.
Analysts remain divided. One expert has cut the price target from €130 to €120 but kept a “Buy” rating, arguing the shares are oversold. Meanwhile, VW is shoring up its finances through other means: it is selling 51 percent of its stake in engine maker Everllence, formerly MAN Energy Solutions, to Bain Capital for about €7.4 billion.
A company spokesman said details would be released once the board session concludes. Observers expect an announcement in the early evening. The outcome will determine whether Europe’s largest carmaker can push through a painful overhaul or must navigate an even more uncertain path of shareholder democracy and political brinkmanship.
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