Blume said in July<\/a> that the firm was looking to make the additional cuts.<\/p>\nShares in the company were up by around 7% in Frankfurt on Friday morning.<\/p>\n
The Golf-maker has been hit by a drop in profits due to falling sales and fierce competition, especially from Chinese brands.<\/p>\n
The firm also said that by 2035 it would cut the number of models it produces by 50% and reduce the complexity of its offering by 75%.<\/p>\n
VW will also prioritise the “most compelling vehicles” and make more of each model, which will help lower costs, it said.<\/p>\n
A “fundamental adjustment of the global workforce capability is necessary” to safeguard the competitiveness of the company, which faces shifting demand and technological change.<\/p>\n
It added “a group-wide workforce adjustment of approximately 50,000 positions – including management roles – will be necessary.”<\/p>\n
The company is also weighing options for operations in Emden, Zwickau, Hanover and Neckarsulm, where it has said production capacity exceeds demand.<\/p>\n
“Alternative uses for these plants are being assessed,” it said.<\/p>\n
As of 2025, VW employed more than 660,000 people worldwide. Its brands also include Seat, Bentley and Lamborghini.<\/p>\n
Christianne Benner – the president of Europe’s largest industrial union IG Metall and deputy chair of VW’s Supervisory Board – said the carmaker had “fought hard for good solutions” to address a “crisis situation”.<\/p>\n
VW’s profits have fallen sharply in recent years, hit by falling sales in China, which was once one of its biggest markets.<\/p>\n
Sales have also fallen in the US, partly due to the impact of tariffs on car imports that were introduced by President Donald Trump’s administration.<\/p>\n
Chinese carmakers have been expanding aggressively as they roll out new technologies while benefiting from lower production costs than their rivals.<\/p>\n
In recent years, firms such as BYD have seen their sales rise sharply in markets including the UK, European Union and South East Asia.<\/p>\n<\/div>\n
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of the biggest restructuring in the group’s almost nine-decade history. It brings the total number of roles the carmaker plans to shed by 2030 to 100,000, after announcing in March that it would cut 50,000 roles. The […]<\/p>\n","protected":false},"author":1,"featured_media":60075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-60074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe"],"_links":{"self":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/60074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/comments?post=60074"}],"version-history":[{"count":1,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/60074\/revisions"}],"predecessor-version":[{"id":60076,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/60074\/revisions\/60076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media\/60075"}],"wp:attachment":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media?parent=60074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/categories?post=60074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/tags?post=60074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}