Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles.
Aerial view taken on October 28, 2024 shows the plant of German car maker Volkswagen (VW) in Zwickau, eastern Germany.
Europe’s largest carmaker Volkswagen is considering cutting tens of thousands more jobs worldwide and shuttering up to four plants in Germany, Manager Magazin reported Friday.
Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles.
A Volkswagen spokesman said that he could not comment on confidential matters but added that the company needed to become more competitive.
“The board has repeatedly emphasised that our current business model no longer works for all our brands in its current form,” he said.
“The entire group must significantly improve its competitiveness. This requires a sharper focus and even more rigorous cost and investment discipline.”
Citing unidentified company sources, Manager Magazin said the carmaker would cut investment by 15 percent to just over 130 billion euros ($148 billion) over the next five years.
New cars stored at tower storage facility of German carmaker Volkswagen (VW) are lit by sunset light at the company’s headquarters in Wolfsburg, central Germany, at dusk on November 21, 2025.
