Volkswagen weighs up to 100,000 job cuts, four plant closures in overhaul: Reuters
The plan would cut about 15% of VW’s workforce and reduce investment as the automaker faces tariffs, Chinese competition and EV transition costs.
- On Friday, Manager Magazin reported that Volkswagen Group CEO Oliver Blume aims to cut up to 100,000 jobs worldwide and discontinue production at four German plants, representing the most radical overhaul in the firm's 89-year history.
- Volkswagen faces intense pressure from tariffs, Chinese competition, and the costly shift to electric vehicles, with the company's stock price falling more than 25% year-to-date.
- Production will end at facilities in Hanover, Zwickau, Emden, and Audi's Neckarsulm site, while investment reduces by around 15% to just over €130 billion over five years.
- Volkswagen's General Works Council and German industrial union IG Metall pledged to oppose the cuts, citing a 2024 deal guaranteeing no factory closures and ruling out compulsory redundancies until 2030.
- A Volkswagen spokesperson declined to comment on "internal, confidential documents," stating that "the relevant facts of the matter will be discussed and approved by the relevant bodies." The firm accelerates cost-cutting beyond 50,000 job cuts already underway.
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219 Articles
The key brand of Volkswagen, as well as the component production unit, are planned to be withdrawn from the concentrate and transformed into stand-alone companies.
The Group is planning a massive bald strike. Only a little over a year ago, the management had agreed with the employee representatives on the reduction of 50,000 jobs.
Europe's largest car manufacturer, the German Volkswagen Group (VW), plans to cut up to 100,000 jobs worldwide, Manager Magazin reported on Friday, citing sources within the company. According to these reports, the plans also include closing four factories in Germany: in Hanover, Zwickau, Emden, and the Audi plant in Neckarsulm. According to Manager Magazin, VW CEO Oliver Blume reportedly presented the company's management board with a turnaroun…
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