Volkswagen plans to cut 100,000 jobs and close factories - media
Kyiv • UNN
Volkswagen CEO Oliver Blume plans to cut up to 100,000 jobs and close four plants in Germany. This will be the most extensive reorganization in the company's 89-year history.
Volkswagen Group CEO Oliver Blume plans to cut up to 100,000 jobs and cease production at four German plants, which would be the most extensive reorganization in the company's 89-year history. This was reported by Reuters, citing Manager Magazin, writes UNN.
Details
According to the publication, the group's capital transformation plan also includes the automaker reducing planned investments by approximately 15%, to about 130 billion euros over the next five years.
Blume and Chief Financial Officer Arno Antlitz aim for a fundamental restructuring of the company, including spinning off the core VW brand and its parts division into separate entities, the magazine reports, citing its own sources.
In the medium term, Volkswagen plans to cease production at its German plants in Hanover, Zwickau, and Emden, as well as at the Audi plant in Neckarsulm, after current car models are gradually phased out, according to the group's report reviewed by the magazine.
These proposals go beyond the existing program to cut 50,000 jobs and come despite a 2024 agreement with unions that rules out plant closures in Germany this decade.
Volvo recalls 64,000 hybrid vehicles due to risk of battery overheating20.06.26, 05:39 • 4110 views
A Volkswagen spokesperson declined to comment on "confidential documents," stating that decisions will be discussed and approved by the company's governing bodies. The VW works council and the influential German union IG Metall have warned that they will resist any such reduction measures.
In the 2025 fiscal year, the group's global workforce numbered 667,164 people, of whom nearly 43% worked in Germany, meaning the cuts would amount to about 15% of the workforce.
Manager Magazin stated that these plans are part of Blume's "Group Target Picture" concept for 2030, which he recently presented to the executive board and intends to present to the supervisory board on July 9.
Nissan halts development of electric Qashqai23.06.26, 10:21 • 4364 views