Volkswagen announced plans to cut 100,000 jobs by 2030, the largest restructuring in global auto industry history, as the company faces pressure from US tariffs, Chinese competition, and declining sales.
The plan, approved by management and unions, includes reducing 50,000 jobs in addition to 50,000 already agreed, with four German plants potentially closing within eight years. The move aims to align workforce levels with economic realities.
The restructuring, which includes a $3 billion investment in tech and a focus on North America and the Global South, is part of broader efforts to improve competitiveness and address financial challenges faced by the company.