Volkswagen to Cut 100,000 Jobs in Massive Restructuring Plan
The board of German car giant Volkswagen has approved cutting an additional 50,000 jobs, bringing the total number of roles to be shed by 2030 to 100,000.
The approval follows earlier March announcements where the company pledged a 50,000‑role cut and marks the largest workforce overhaul in its nearly nine‑decade history.
Volkswagen, which owns brands such as Audi, Porsche, Skoda, Seat, Bentley and Lamborghini, is also reviewing the futures of four German plants whose capacity currently exceeds demand.
Chief Executive Officer Oliver Blume said the move sends a “strong signal” that the firm is “taking responsibility for our entire workforce” and that a “fundamental adjustment of the global workforce capability is necessary”.
The company also plans to cut the number of models it produces by 50% and simplify its product range by 75% by 2035, aiming to focus on the most compelling vehicles and to increase production volumes for cost savings.
Shares rose around 7% on Frankfurt trading following the announcement, reflecting investor optimism about the restructuring strategy.
The decision arrives amid a sharp decline in sales in key markets, notably China which has seen aggressive competition from domestic manufacturers such as BYD and other Chinese brands that leverage lower production costs and rapid technological rollout.
European industrial union leaders, including IG Metall president Christianne Benner, praised Volkswagen for “good solutions” that address the current crisis situation.
