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Volkswagen plans to cut 100,000 jobs
Volkswagen is considering cutting up to 100,000 positions, including 50,000 additional roles, according to an internal memo from its chief executive. The automaker faces pressure from a competitive car market and its stock has reached a 16-year low.
Jul 13, 1:30 PM·1m read3 sources
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RestructuringJob losses
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Volkswagen may need to cut about 50,000 more jobs to match the competitiveness of rivals, its CEO told staff in an internal memo. The memo effectively confirmed for the first time that the automaker is looking to reduce up to 100,000 positions.
Volkswagen may need to cut about 50,000 extra jobs to keep up with rivals in an increasingly fierce car market, the same memo stated. VW's stock is currently at a 16 year low.
The internal communication marks the first explicit acknowledgment of the scale of planned workforce reductions. No timeline for the cuts was provided in the memo.
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Necessary restructuringJob losses amid crisis
RestructuringJob losses
CorroborationLimited · 3 sources
