Volkswagen weighs up to 100,000 job cuts, four plant closures in overhaul: Reuters
The plan would cut about 15% of the workforce and slash investment as Volkswagen faces pressure from Chinese rivals and weak demand.
- 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.
284 Articles
284 Articles
Volkswagen to Axe 100,000 Jobs and Close 4 German Plants in Desperate Bid to Survive Chinese EV Onslaught
Volkswagen is considering slashing 100,000 jobs and shutting four German plants in what would be the deepest overhaul in its 89-year history, according to Manager Magazin. The proposed moves, which would hit sites in Hanover, Zwickau, Emden and Audi's Neckarsulm plant, underline how brutally the German carmaker is being squeezed by Chinese EV competition, soft demand in Europe and tariff pressure in the US. The news came after months of worsenin…
der Standard AT
der Standard DEVolkswagen is facing a profound transformation. Up to 100,000 jobs could be affected. THE STANDARD summarizes the most important
German carmakers are embarking on their deepest restructuring yet to stem losses caused by the entry of Chinese competitors. Analysts warn the blow could weaken the backbone of Europe's largest economy, with Volkswagen, BMW and Mercedes-Benz preparing to lay off tens of thousands of workers. Volkswagen prepares massive job cutsVolkswagen is preparing to expand cost-cutting measures by cutting up to 100,000 jobs in the coming years and closing pr…
Volkswagen's plan to close four factories and cut 100,000 jobs - not yet approved by the board of directors - is just one of several expected cuts in the giant German car industry. BMW and Mercedes-Benz, as well as several large German suppliers, are on the same track.
kreiszeitung.de
tz.deAccording to the report, Volkswagen plans the most radical transformation of its history. A brand could disappear, several works are under pressure and thousands of jobs are wobbly.
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