German automaker Volkswagen plans to cut around 50,000 jobs in Germany by 2030 as part of a major restructuring aimed at reducing costs and stabilising the company after a sharp drop in profits.
The scale of the job cuts was revealed by CEO Oliver Blume in a letter to shareholders released alongside the company’s latest financial results.
According to the company, the reductions include 35,000 job cuts already announced in 2024 within the core Volkswagen brand, with further layoffs expected across luxury brands Audi and Porsche, as well as software subsidiary Cariad.
Volkswagen said the restructuring is designed to make the group more efficient and financially resilient as it faces slowing demand, growing competition in China and geopolitical pressures.
The company aims to generate about €6 billion in annual savings by 2030, with cost-cutting measures already delivering roughly €1 billion in savings during 2025.
No tags for this post.
