Volkswagen is planning another 50,000 job cuts worldwide by 2030 as part of its biggest restructuring in nearly 90 years.
The additional cuts would come on top of an existing programme targeting around 50,000 positions, potentially taking the total planned workforce reduction to about 100,000.
The restructuring is aimed at reducing excess capacity, lowering costs and improving competitiveness amid growing competition from Chinese automakers, US tariffs and weaker demand in China.
The plan also includes changes to Volkswagen’s German manufacturing network, with vehicle production set to end at four plants. The company plans to simplify its model range and streamline its corporate structure as part of its Future Plan 2030.
Volkswagen is also targeting higher annual sales and improved operating margins by 2030 as it seeks to strengthen profitability and remain competitive in a rapidly changing global auto industry.
