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Friday, September 4, 2026 · UTC
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Volkswagen Board Approves Plan to Cut 50,000 More Jobs

Volkswagen's board approved a plan to cut 50,000 jobs as part of a turnaround strategy.

TruthFoundry News Desk
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Stands on 8 placed sources from 2 publishers.
As of 2026-09-04 01:47 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.
The board of German car manufacturer Volkswagen approved a plan to cut an additional 50,000 jobs as part of a sweeping turnaround programme. [1] Volkswagen plans to cut an additional 50,000 jobs by 2030, bringing the total number of positions the company intends to eliminate by the end of the decade to 100,000. [2] The approved plan brings the total number of roles Volkswagen plans to shed by 2030 to 100,000. [3] The Beetle-maker has been hit by a drop in profits due to falling sales and fierce competition, especially from Chinese brands. [4] Volkswagen's chief executive Oliver Blume said in a statement on Thursday that the move is a strong signal for the future of the firm and that the company is taking responsibility for its entire workforce. [5] The restructuring comes as Volkswagen seeks to restore profitability and remain competitive in a rapidly changing global auto industry. [6] Volkswagen had already announced in March that it would cut 50,000 jobs by 2030. [7] Volkswagen's supervisory board approved the latest workforce reduction plan on Thursday. [8]
What this stands on
  1. The board of German car manufacturer Volkswagen approved a plan to cut an additional 50,000 jobs as part of a sweeping turnaround programme. · BBC News
  2. Volkswagen plans to cut an additional 50,000 jobs by 2030, bringing the total number of positions the company intends to eliminate by the end of the decade to 100,000. · The Times Of India
  3. The approved plan brings the total number of roles Volkswagen plans to shed by 2030 to 100,000. · BBC News
  4. The Beetle-maker has been hit by a drop in profits due to falling sales and fierce competition, especially from Chinese brands. · BBC News
  5. Volkswagen's chief executive Oliver Blume said in a statement on Thursday that the move is a strong signal for the future of the firm and that the company is taking responsibility for its entire workforce. · BBC News
  6. The restructuring comes as Volkswagen seeks to restore profitability and remain competitive in a rapidly changing global auto industry. · The Times Of India
  7. Volkswagen had already announced in March that it would cut 50,000 jobs by 2030. · The Times Of India
  8. Volkswagen's supervisory board approved the latest workforce reduction plan on Thursday. · The Times Of India
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