Volkswagen approves 50,000 job cuts and factory closures worldwide
The VW Supervisory Board approved a plan to eliminate 50,000 jobs globally. The company intends to shut down four German factories alongside the workforce reductions.
Volkswagen plans to cut 50,000 jobs worldwide following approval by its supervisory board on September 2. The proposal includes shutting down four facilities in Germany. These measures target employees across the company and its luxury subsidiaries, including Porsche and Audi. Currently, VW employs approximately 630,000 people globally. When including joint ventures in China, the total reaches around 680,000 workers. This workforce size is significantly larger than competitors Toyota, Stellantis, and Ford. Management identified high labor costs as a major burden hindering competitiveness against Chinese rivals. The company previously reduced thousands of positions last year due to profit pressures. While the supervisory board backed the job cuts, it did not immediately agree to the factory closures. Other automakers like Mercedes-Benz are also planning significant staff reductions.
