Volkswagen CEO Says Group May Need to Cut Another 50,000 Jobs After Prior Layoff Plan
2026-07-13 11:14:43
According to Lianhe Zaobao citing Reuters, Volkswagen CEO Oliver Blume told employees in an internal memo that the automaker may need to cut about another 50,000 jobs on top of a previously agreed plan to eliminate 50,000 positions across the group, including Audi and Porsche, to address what he called a “cost disadvantage.” The memo said Volkswagen has a 20% cost disadvantage versus peers and is assessing all brands, companies, and regions to determine the necessary and feasible scale of adjustments. Separately, earlier media reports said Volkswagen’s restructuring plan targets cutting 19,000 jobs in Germany by the end of 2026 and streamlining about 50,000 positions by 2030, roughly one-sixth of its Germany workforce.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
