Volkswagen is set to cut 100,000 jobs by 2030 in what the company describes as the largest restructuring in its history, a dramatic response to mounting pressure from US tariffs and an aggressive wave of Chinese competitors flooding global markets. The German automaker, which already faces a shrinking European market and the costly transition to electric vehicles, has agreed with unions to halve its product line and shed 15% of its workforce over the coming years. The move signals how deeply the industry's traditional powerhouses are being squeezed, as cheaper Chinese EV makers undercut established brands on price while trade barriers add further strain on export-dependent manufacturers.
Under-pressure carmaker will shed 15% of workforce and halve its product line in sector’s biggest ever restructureThe car company Volkswagen has announced it will shed 100,000 jobs by the end of the decade after being hit by US tariffs and fierce competition from Chinese rivals.The German manufacturer said management and unions had agreed as part of a sweeping cost-cutting plan to cut a further 50,000 positions by 2030, bringing total job losses in the pipeline to 100,000. Continue reading...
