Volkswagen board approves plan to cut 100,000 jobs
Volkswagen has announced plans to cut an additional 50,000 jobs by 2030, bringing the total planned workforce reduction to 100,000. The company cites falling profits and intense competition from Chinese manufacturers as the primary drivers for this restructuring.
Why it matters
This massive workforce reduction highlights the significant challenges legacy automakers face in the transition to electric vehicles and global market shifts.
Image source, Getty Images By Osmond Chia Business reporter Published 26 minutes ago The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of a sweeping turnaround programme. It brings the total number of roles the company plans to shed by 2030 to 100,000.
The group - which includes Audi, Porsche, Skoda as well as the VW brand - said in March that it would cut 50,000 roles by the end of the decade.
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