Volkswagen weighs up to 100,000 job cuts, four plant closures in overhaul: Reuters
The plan would deepen a restructuring push as Volkswagen faces weaker China sales, EV losses and tariff pressure, the company said.
- 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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257 Articles
Volkswagen now looks extremely gloomy thanks to its "green" policy in Germany and Europe. The job losses are likely to be much more extensive than originally planned, several plants are to be closed and subsidiaries are already being held up. The situation is probably more critical than previously thought. In the European Union, the non-realistic political caste actually believed that it could carry out a "energy and traffic turnaround", which i…
In March last year, Volkswagen had defined, after intense negotiations, a plan to cut 50,000 jobs with the aim of regaining profitability and strengthening its problematic operations in Germany. A little over a year later, and after a series of setbacks, the workers of Europe's largest assembler now face the prospect that this number could double to 100,000 layoffs. The plan, initially released by the magazine Manager Magazin, still needs to be …
Layoffs In Volkswagen: About 1 lakh employees will lose their jobs. Currently, 4 factories are planning to close. Is India also going to face the wrath of layoffs?
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