Volkswagen shares rose 7% in early Frankfurt trading after the automaker’s supervisory board reached a major turnaround agreement late Thursday. The deal covers the biggest restructuring in Volkswagen’s 89-year history, including a further 50,000 job cuts that would bring the group’s total to 100,000. It leaves the future of four German plants open. Moritz Kronenberger of Volkswagen shareholder Union Investment called the agreement a positive sign for Volkswagen and the capital market despite severe workforce and group cutbacks, and said responsibility now rests with the Executive Board.