Volkswagen to cut 100,000 jobs by 2030 in sweeping restructure
What we know
- Volkswagen said it will shed 100,000 jobs by the end of the decade, representing 15% of its workforce, after management and unions agreed to a comprehensive cost-cutting plan. The German carmaker is facing competition from Chinese rivals and rapid technological change, and will also halve its product line as part of the restructuring.
- Volkswagen's supervisory board has approved a restructuring plan that will eliminate 50,000 jobs by the end of the decade. The German automaker said the cuts are necessary to align its workforce with economic reality, citing intensifying global competition, changing demand patterns and technological shifts.
- Volkswagen announced plans to eliminate 50,000 jobs in coming years as part of a cost reduction programme. The company said the future of four German factories is uncertain from 2031 to 2034, citing rising global competition and technological shifts in the automotive industry.
- Volkswagen management and unions agreed Thursday that the company will shed 100,000 jobs by the decade's end, including 50,000 cuts beyond earlier reductions. One in six employees will depart in coming years.
- Volkswagen's supervisory board approved a restructuring plan on Thursday that will cut 50,000 jobs through 2030. The company said it cannot guarantee the continuity of four German plants in Emden, Zwickau, Hannover and Neckarsulm between 2031 and 2034, citing excess production capacity of 500,000 vehicles annually in Europe.
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Updates
Newest first- Key moment
Volkswagen announced plans to eliminate 50,000 jobs in coming years as part of a cost reduction programme. The company said the future of four German factories is uncertain from 2031 to 2034, citing rising global competition and technological shifts in the automotive industry.
- Key moment
Volkswagen's supervisory board approved a restructuring plan on Thursday that will cut 50,000 jobs through 2030. The company said it cannot guarantee the continuity of four German plants in Emden, Zwickau, Hannover and Neckarsulm between 2031 and 2034, citing excess production capacity of 500,000 vehicles annually in Europe.
- Key moment
Volkswagen's supervisory board has approved a restructuring plan that will eliminate 50,000 jobs by the end of the decade. The German automaker said the cuts are necessary to align its workforce with economic reality, citing intensifying global competition, changing demand patterns and technological shifts.
- Key moment
Volkswagen said it will shed 100,000 jobs by the end of the decade, representing 15% of its workforce, after management and unions agreed to a comprehensive cost-cutting plan. The German carmaker is facing competition from Chinese rivals and rapid technological change, and will also halve its product line as part of the restructuring.
- Key moment
Volkswagen management and unions agreed Thursday that the company will shed 100,000 jobs by the decade's end, including 50,000 cuts beyond earlier reductions. One in six employees will depart in coming years.
- Key moment
Volkswagen's supervisory board approves plan to cut 50,000 jobs
Volkswagen's supervisory board has approved a restructuring plan that will eliminate 50,000 jobs by the end of the decade. The German automaker said the cuts are necessary to align its workforce with economic reality, citing intensifying global competition, changing demand patterns and technological shifts.
Illustration · Lothar Spurzem · CC BY-SA 2.0 - Key moment
Volkswagen approves 50,000 job cuts and puts four German plants at risk
Volkswagen's supervisory board approved a restructuring plan on Thursday that will cut 50,000 jobs through 2030. The company said it cannot guarantee the continuity of four German plants in Emden, Zwickau, Hannover and Neckarsulm between 2031 and 2034, citing excess production capacity of 500,000 vehicles annually in Europe.
Archive photo · Ermell · CC BY-SA 4.0