DistantNews
Support us
🇱🇹 Lithuania /Economy & Trade

Volkswagen says it will cut 100,000 jobs worldwide

From Delfi · () Lithuanian

Translated from Lithuanian and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • Volkswagen said management and unions had agreed to eliminate another 50,000 positions by the end of the decade, in addition to 50,000 previously agreed cuts.
  • The planned reduction would affect about 15% of the company’s global workforce and represent the largest restructuring in the history of the global auto industry, according to the report.
  • Volkswagen cited U.S. tariffs, unstable electric-vehicle demand and intense competition from Chinese manufacturers as challenges.

Volkswagen plans to eliminate 100,000 jobs worldwide, describing the cuts as a necessary adjustment to economic conditions. The group said management and unions had agreed to remove another 50,000 positions by the end of the decade, on top of 50,000 job cuts already agreed.

“It is necessary to systematically align the number of employees with economic reality,” the group said in a statement covering its 10 brands.

Volkswagen, Europe’s largest carmaker, faces pressure from U.S. tariffs, unstable demand for electric vehicles and fierce competition from Chinese manufacturers. The company also faces competition within China, where it operates alongside brands including Audi and Porsche.

If the full plan goes ahead, the company will cut about 15% of its workforce worldwide. The restructuring would be the largest ever seen in the global automotive industry, according to the report.

It is necessary to systematically align the number of employees with economic reality.

· Volkswagen groupThe company used the statement to explain the planned workforce reduction.
About this summary

Originally published by Delfi in Lithuanian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog