Volkswagen board approves cutting 50,000 more jobs and ending production at 4 plants
The overhaul would bring total planned cuts to about 100,000 and gives CEO Oliver Blume broader backing to simplify the carmaker’s lineup.
- On Thursday, Volkswagen AG's supervisory board unanimously approved "Future Plan 2030," authorizing 50,000 additional job cuts, halving its vehicle model range, and launching strategic reviews of four German plants: Emden, Zwickau, Hannover, and Neckarsulm.
- Surging competition from Chinese rivals like BYD and Geely, combined with U.S. tariff expenses of 2.9 billion euros in 2025, forced the automaker to address widespread overcapacity and declining profitability across European operations.
- These new reductions bring total planned job losses to 100,000—roughly 15% of Volkswagen's global workforce—while the group commits 135 billion euros in capital and R&D spending through 2031 to modernize operations.
- Labor leaders, including IG Metall chief Christiane Benner and works council head Daniela Cavallo, backed the plan to avoid escalation, though the company warned it cannot guarantee future production for the four German sites.
- Volkswagen targets a 9% operating margin by 2030 through streamlined management structures and potential alternative uses for the four plants, including defense industry contracts, as the group prioritizes higher-volume model production for competitiveness.
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The Supervisory Board of Europe's largest car manufacturer has surprisingly reached agreement on important parts of the Council's 2030 recovery strategy, led by CEO Oliver Blume. The Supervisory Board unanimously approved the package, announced the company. The measures are tough. The group, which includes Audi, Porsche and Skoda marks, as well as Volkswagen, announced in March that it will eliminate 50,000 jobs by the end of the decade, reports…
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Volkswagen Approves Sweeping Restructuring Plan With 50,000 More Job Cuts
Volkswagen's supervisory board has approved a sweeping restructuring plan that will eliminate another 50,000 jobs worldwide as the German automaker attempts to reduce costs and ... The post Volkswagen Approves Sweeping Restructuring Plan With 50,000 More Job Cuts first appeared on [your]NEWS.
The bulk of the cuts will be on Volkswagen, the rest on subsidiaries, including Audi and Porsche.
Global Market: European shares edge lower as investors await US jobs data
European shares edged lower on Friday as investors stayed cautious ahead of key U.S. jobs data, while Volkswagen shares jumped 6% after the automaker unveiled a restructuring plan involving 50,000 job cuts. Rising oil prices amid Middle East tensions added to inflation concerns, while banking and chemical stocks weighed on the broader market.
Volkswagen puts on white the cure to get out of the crisis: another 50,000 jobs less, half of the models by 2035 and four German plants from the uncertain future. The Supervisory Board unanimously approved the Future Plan 2030, giving the CEO Oliver Blume (who had presented the plan) the mandate [...] L'articolo Volkswagen, 50 thousand places less and four factories at risk. Pass the maxi-restructuring comes from Il Fatto Quotidiano.
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