Volkswagen to cut 100,000 jobs by end of decade
The German automobile giant had said in March that it would cut 50,000 roles by the end of the decade. Volkswagen also indicated that it plans to slash the number of car models the group produces by half.
The board of Volkswagen has approved a plan to cut another 50,000 jobs, bringing the total number of positions the company plans to slash by 2030 to 100,000.
The German automobile giant, which is struggling with competition from China and US tariff costs, had said in March that it would cut 50,000 roles by the end of the decade.
“Given intensifying global competition, shifting demand and technological change in the automotive industry, a consistent alignment of workforce capacity with economic reality is essential,” the automaker said. “According to the analysis underlying the Future Plan 2030, a Group-wide workforce adjustment of approximately 50,000 positions — including management roles — will be necessary.”
The group, which includes world-famous models like VW, Audi and Porsche, said it is investing in new products, technologies and future growth areas, based on competitive costs and more efficient structures.
“The Supervisory Board has unanimously approved the Executive Board’s Future Plan presented today. This is a strong signal for the future of the Volkswagen Group,” said Oliver Blume, CEO of Volkswagen Group. “We are taking responsibility for our entire workforce, for our partners and for industrial jobs worldwide. Over the coming years, we will invest a three-figure billion sum to make our iconic brands even more attractive, stronger and more competitive.”
Volkswagen also indicated that it plans to slash the number of car models the group produces by half.
“As the Supervisory Board, we are convinced that implementation of the Future Plan will secure the long-term viability and competitiveness of the Volkswagen Group,” said Hans Dieter Pötsch, Chairman of the Supervisory Board.
