Volkswagen board approves plan to cut 100,000 jobs
Summary
Volkswagen’s board has approved cutting 50,000 more jobs, adding to a previous plan to cut 50,000 roles by 2030. This means the company plans to reduce its workforce by 100,000 employees to deal with falling sales and changing market conditions.Key Facts
- Volkswagen plans to cut a total of 100,000 jobs by 2030.
- An additional 50,000 job cuts were recently approved by the board.
- The cuts include management positions across the company.
- Volkswagen owns brands like Audi, Porsche, and Skoda.
- The company has seen lower profits due to decreased sales and strong competition, especially from Chinese car brands.
- The job reductions aim to keep Volkswagen competitive amid changing technology and market demand.
- As of 2025, Volkswagen employed more than 660,000 people worldwide.
- CEO Oliver Blume described the plan as taking responsibility for the workforce’s future.
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