VW to Slash Up to 50,000 Jobs, Trim Lineup in New Restructuring Plan

Volkswagen Group is preparing to cut up to 50,000 jobs and substantially trim its vehicle range under a newly approved corporate restructuring plan, as the German carmaker faces mounting competition from China. The company's Supervisory Board has unanimously approved the new 'Future Plan 2030' strategy, which aims to reduce expenditure in response to rising market rivalry from China. Volkswagen intends to contract its car model lineup by roughly 50 per cent and reduce its offering complexity, decreasing trim options and specifications, by about 75 per cent.

The carmaker will downsize its workforce by approximately 50,000 positions, a step described as 'beyond existing programs', meaning previously planned job cuts will continue to be rolled out as scheduled. The board statement said there would be an adjustment of the employee numbers of around 50,000 positions, including management jobs. Plants in Emden, Zwickau, Hannover and Neckarsulm in Germany will be phased out of auto production between 2031 and 2034, although alternative uses will be explored.