Volkswagen to cut 50,000 jobs as profits drop
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Volkswagen plans to cut 50,000 jobs in Germany by 2030 across its brands, including Audi and Porsche. The job cuts are a response to a 44% drop in post-tax profits in 2025, the lowest since 2016. The company cites US import tariffs, increased competition from Chinese automakers, and the high costs of transitioning to electric vehicles as contributing factors. While projecting a recovery, Volkswagen's finance chief emphasized the need for rigorous cost reduction. The company had previously agreed with unions to cut over 35,000 jobs in Germany by 2030 to save €15 billion. Volkswagen's profits have been impacted by declining demand in China and increased competition in Europe.
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Source Transparency
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