Volkswagen Plans to Cut Up to 100,000 Jobs and Close Four Plants in Germany
According to Manager Magazin, German automotive group Volkswagen is considering cutting up to 100,000 jobs worldwide, including closing four plants in Germany.
German automaker Volkswagen is reportedly intensifying its cost-cutting measures, with plans to eliminate up to 100,000 jobs and shut down four plants in Germany, as reported by Manager Magazin on Friday.
The new operational strategy, discussed by the board on Wednesday, includes an additional 50,000 job cuts on top of a previously announced target of 50,000 reductions by 2030 across all brands. The final decision rests with the supervisory board, which is scheduled to review the matter on July 9.
The company faces significant headwinds from fierce competition among Chinese automakers, U.S. import tariffs, and weak demand for electric vehicles. These factors are driving Volkswagen to pursue deeper structural changes to remain competitive.
