Volkswagen has confirmed plans to cut up to 100,000 jobs globally and slash its vehicle range by half as part of a major cost-cutting restructuring.
Volkswagen Confirms Plans To Slash Up To 100,000 Jobs Globally
Volkswagen Group has confirmed it’s weighing cuts of up to 100,000 jobs worldwide, alongside plans to halve its vehicle lineup, according to Tribune Online.
CEO Oliver Blume said the carmaker’s operating costs run about 20 per cent higher than competitors, prompting the review across all brands, including Audi, Porsche and Bentley. The move doubles a previous 2024 pledge to cut 50,000 German jobs by 2030.
Profits have plunged from €22.6bn in 2023 to €8.9bn last year, with China sales down 26 per cent and US sales falling over seven per cent amid tariffs. Labour unions have staged protests, opposing further job losses and factory closures.
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