New Delhi, Sept. 4 -- Volkswagen's supervisory board on Thursday approved a transformation plan that will include cutting additional 50,000 jobs, far fewer models and a smaller industrial footprint in its attempt to counter painful tariffs, overcapacity and aggressive Chinese rivals.

According to Bloomberg, the plan detailed Thursday doubles workforce reductions agreed to across Volkswagen Group brands since late 2024, while also paving the way for the company to slim its vehicle lineup by as much as 50 percent by 2035.

The 50,000 new cuts represent about 8 percent of VW's global workforce as of the end of last year.

"Given intensifying global competition, shifting demand and technological change in the automotive industry, a consisten...