26-Jun-2026 18:19:04
Volkswagen Plans Up to 100,000 Job Cuts in Biggest Restructuring Drive
Volkswagen CEO Oliver Blume is reportedly planning to cut up to 100,000 jobs worldwide over the next few years as part of the automaker's biggest restructuring in nearly nine decades. The overhaul could also include shutting four German factories, reducing planned investments by about 15%, and spinning off parts of its core business. The proposed measures aim to counter rising competition from Chinese automakers and the costly transition to electric vehicles, though unions have vowed to strongly oppose the plan.