Volkswagen's board has approved a plan to cut an additional 50,000 jobs, bringing the total number of planned workforce reductions by 2030 to 100,000. This move is part of a comprehensive turnaround program for the German automotive giant, which includes brands like Audi, Porsche, and Skoda.
In March, the company announced its intention to shed 50,000 roles by the end of the decade. Volkswagen CEO Oliver Blume described the latest decision as a "strong signal" for the company's future and stated that the firm is "taking responsibility for our entire workforce."
The car manufacturer has faced declining profits attributed to falling sales and intense competition, particularly from Chinese brands. In a statement, Volkswagen indicated that a "fundamental adjustment of the global workforce capability is necessary" to maintain the company's competitiveness amidst shifting consumer demand and technological advancements. The approximately 50,000 positions to be eliminated include management roles.
As of 2025, Volkswagen employed more than 660,000 people worldwide. The company is seeking to adapt to evolving market conditions and technological changes within the automotive industry.