The Volkswagen board has approved a plan to cut an additional 50,000 jobs by 2030, bringing the total number of roles set to be shed to 100,000. This is part of the company's largest restructuring effort in its nearly nine-decade history, which aims to address falling profits due to declining sales and competition from Chinese brands. The plan also includes cutting production capacity at four German plants by considering alternative uses for them, and reducing the number of models produced by 50% by 2035. Volkswagen employs over 660,000 people worldwide, with its workforce expected to be adjusted to safeguard competitiveness amidst shifting demand and technological change.
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Story summary
The Volkswagen board has approved a plan to cut an additional 50,000 jobs, bringing the total number of roles shed by 2030 to 100,000. This decision comes as part of the company's largest restructuring effort in its almost nine-decade history. The job cuts are due to a decline in profits caused by falling sales and intense competition from Chinese brands. Volkswagen's chief executive, Oliver Blume, stated that the move is "taking responsibility for our entire workforce" and will help the firm become more efficient. The company also plans to reduce its model offerings by 50% by 2035 and simplify its product lineup by 75%. This decision has already had a positive impact on Volkswagen's stock, with shares increasing by around 7%** in Frankfurt on Friday morning.
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- Published
The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of the biggest restructuring in the group's almost nine-decade history.
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board → publish → history
It brings the total number of roles the carmaker plans to shed by 2030 to 100,000, after announcing in March that it would cut 50,000 roles.
The group - which includes Audi, Porsche, Skoda as well as the VW brand - is also considering the future of four of its German plants.
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which → bring → plants
The move is a "strong signal" for the future of the firm, which is "taking responsibility for our entire workforce", VW's chief executive Oliver Blume said in a statement on Thursday.
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executive → take → Thursday
Blume said in July that the firm was looking to make the additional cuts.
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firm → say → cuts
The Golf-maker has been hit by a drop in profits due to falling sales and fierce competition, especially from Chinese brands.
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maker → hit → brands
The firm also said that by 2035 it would cut the number of models it produces by 50% and reduce the complexity of its offering by 75%.
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it → say → %
VW will also prioritise the "most compelling vehicles" and make more of each model, which will help lower costs, it said.
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it → prioritise → costs
A "fundamental adjustment of the global workforce capability is necessary" to safeguard the competitiveness of the company, which faces shifting demand and technological change.
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which → safeguard → demand
It added "a group-wide workforce adjustment of approximately 50,000 positions - including management roles - will be necessary."
The company is also weighing options for operations in Emden, Zwickau, Hanover and Neckarsulm, where it has said production capacity exceeds demand.
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capacity → add → demand
"Alternative uses for these plants are being assessed," it said.
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it → assess → plants
As of 2025, VW employed more than 660,000 people worldwide.
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VW → employ → people
Its brands also include Seat, Bentley and Lamborghini.
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brands → include → Seat
Christianne Benner - the president of Europe's largest industrial union IG Metall and deputy chair of VW's Supervisory Board - said the carmaker had "fought hard for good solutions" to address a "crisis situation".
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carmaker → say → situation
VW's profits have fallen sharply in recent years, hit by falling sales in China, which was once one of its biggest markets.
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which → fall → markets
Sales have also fallen in the US, partly due to the impact of tariffs on car imports that were introduced by President Donald Trump's administration.
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that → fall → administration
Chinese carmakers have been expanding aggressively as they roll out new technologies while benefiting from lower production costs than their rivals.
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they → expand → rivals
In recent years, firms such as BYD have seen their sales rise sharply in markets including the UK, European Union and South East Asia.
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sales → see → UK
