Volkswagen supervisory board blocks Oliver Blume restructuring plan in Wolfsburg
Volkswagen CEO Oliver Blume just had his major restructuring plan blocked by the company's supervisory board.
His proposal (which included job cuts and closing some German plants) was shot down at a meeting in Wolfsburg on July 9, 2026.
The strongest opposition came from labor representatives and Lower Saxony, Volkswagen's second-biggest shareholder with a 20% stake.
All 10 labor representatives voted no
The board has 10 labor representatives and nine shareholder representatives, but Blume couldn't get enough support: 12 out of 19 members present voted no, including all labor representatives and two from Lower Saxony.
Labor unions say the plan stoked fears about job losses; a special edition newspaper from Volkswagen's works council even called out Blume for causing "a massive loss of trust" among employees.
For now, the board is only backing general ideas to simplify Volkswagen's lineup, not any drastic changes.