- Volkswagen plans to cut a further 50,000 positions by 2030, bringing total planned job reductions to 100,000, or 15% of its workforce.
- Management and unions agreed the reductions as part of a broad cost-cutting plan that includes halving Volkswagen’s product line.
- The restructuring follows pressure from US tariffs and fierce competition from Chinese rivals.
Quotes
“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.”