US EditionVolkswagen Says to Cut 50,000 Jobs as Profit Slides
Volkswagen will cut 50,000 jobs in Germany over four years after a 53% profit decline due to global market volatility and cost pressures, the company said.
- This week, Volkswagen Group announced it will cut 50,000 jobs in Germany by 2030 amid a 53 per cent drop in pre-tax profits at its Wolfsburg conference.
- Chief Financial Officer Arno Antlitz blamed geopolitical tensions, trade barriers and rising competition from China for the downturn, urging cost reductions and leveraging Group synergies in the coming months.
- Previously, the group agreed to cut 35,000 jobs at Volkswagen and Blume said additional cuts will involve Audi, Porsche and Cariad.
- Financial data reveal that earnings after tax fell about 44 per cent last year, leaving earnings at €6.9 billion, and operating profit dropped to €8.9 billion despite revenues of roughly €322 billion.
- Volkswagen expects an operating margin of 4.0 to 5.5 per cent in 2026 and Oliver Blume, CEO, said the group will launch a major affordable EV campaign focused on China.
14 Articles
14 Articles
On March 10, 2026, the Volkswagen Group presented its balance sheet for the 2025 financial year. The figures are alarming: the profit of the traditional brand has fallen by almost half. As a consequence, 50,000 jobs are to be cut in Germany by 2030. Last year, the Wolfsburg-based Autoriese Volkswagen recorded the most massive drop in profits since the 2015/2016 Diesel scandal. Net profit after tax fell by around 44 percent: from 12.4 billion eur…
Hamburg (dpa) – Volkswagen Group CEO Oliver Blume said the company's cost-cutting plans and job reductions could also affect its Bundesliga club, VfL Wolfsburg. "We also need to make improvements at Wolfsburg. We are already doing this, and we will review everything at the end of the season. I think this is the fair course of action," Blume told RTV and NTV. He did not specify whether the cost-cutting measures would also impact the company's spo…
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