The board of German car manufacturer Volkswagen has approved a plan to cut an additional 50,000 jobs as part of a turnaround programme. This decision increases the total number of roles the company intends to shed by 2030 to 100,000.
The group, which includes brands such as Audi, Porsche, Skoda, and VW, had previously announced in March its intention to cut 50,000 roles by the end of the decade. VW's chief executive, Oliver Blume, stated on Thursday that the move is a "strong signal" for the firm's future and demonstrates it is "taking responsibility for our entire workforce."
Volkswagen has experienced a decline in profits due to falling sales and intense competition, particularly from Chinese brands. The company's statement indicated that a "fundamental adjustment of the global workforce capability is necessary" to maintain competitiveness amidst shifting demand and technological changes. As of 2025, Volkswagen employed over 660,000 people worldwide.