VW CEO: About Half of 50,000 Potential German Job Cuts Planned

Volkswagen CEO Oliver Blume said the automaker plans to cut about half of the roughly 50,000 jobs that could be eliminated in Germany, speaking at a works meeting in Wolfsburg. The management board intends to rely as much as possible on voluntary personnel measures to reduce the workforce. The announcement comes as the company faces significant cost pressures and restructuring efforts across its German operations.

Blume's remarks were made during a gathering of employees at the company's headquarters, where he outlined the scale of the planned reductions. The company has not yet provided a detailed timeline or specific departments affected by the potential job cuts. Volkswagen has been grappling with rising costs, increased competition, and the transition to electric vehicles, which has prompted the need for a leaner organizational structure.