Volkswagen to Cut 100,000 Jobs as Part of Restructuring

By: delo.ua|2026/09/04 06:42:53

Volkswagen is launching its largest restructuring in 89 years, cutting around 50,000 jobs by the end of the decade, totaling approximately 100,000 layoffs. Reasons include competition with Chinese automakers, high energy prices, and the shift to electric vehicles. CEO Oliver Blume stated that this is a signal for the company's future. The new plan has been agreed upon with unions representing over 650,000 workers. Initial layoffs will begin at the end of 2024, affecting 37,000 workers. Volkswagen is also considering the future of four plants in Germany and the possibility of repurposing them for the defense industry. The company plans to produce about 9 million vehicles per year, which is lower than previous targets. Experts consider the situation existential for Volkswagen and the German industry, requiring radical changes to compete with Chinese manufacturers.

-- Price

--
--
--

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.

You may also like

iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com