Volkswagen announces it will cut 100,000 jobs by 2030
Under-pressure carmaker will shed 15% of workforce and halve its product line in sector’s biggest ever restructure The car company Volkswagen has announced it will shed 100,000 jobs by the end of the decade after being hit by US tariffs and fierce competition from Chinese rivals. The German manufacturer said management and unions had agreed as part of a sweeping cost-cutting plan to cut a further…
Volkswagen has announced it will cut 100,000 jobs by the end of the decade, as part of the company's largest restructuring in global automotive history. The German manufacturer cited US tariffs, fierce competition from Chinese rivals, and declining profits as the reasons for the job losses. The reduction in workforce will be about 15% of Volkswagen's employees, totaling over 650,000 people across its brands, including Skoda, Seat, Porsche, Cupra, and Lamborghini.
The company plans to cut half of its current product line and close four production plants in Germany within the next eight years. The supervisory board has unanimously approved the executive board's plan, signaling a strong commitment to the company's future.
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