Volkswagen struck a surprise turnaround deal with unions, cutting 50,000 more jobs while sparing four German plants from closure for now. Adam Jourdan decodes what this means ▻ ↧ Volkswagen's surprise turnaround deal averts showdown as job cuts loom Volkswagen ​shares hit an 11-week high after the supervisory board of Europe's largest automaker late on Thursday struck an ambitious turnaround ‌agreement that put the focus on sweeping job cuts and averted a clash between major stakeholders.