Jun. 27 at 1:23 AM
Volkswagen is evaluating a major restructuring plan that could eliminate up to 100,000 jobs and close four manufacturing plants in Germany as it seeks to restore competitiveness amid U.S. tariffs, slowing demand in China, and mounting pressure from lower-cost global rivals, according to Manager Magazin. The proposal also includes reducing overhead expenses by approximately
$12.5 billion by the end of the decade through broad efficiency measures.
The potential overhaul reflects the growing challenges facing Europe's largest automaker as it navigates weaker vehicle demand, rising production costs, and the costly transition to electric vehicles. While management is pursuing significant cost savings to strengthen long-term profitability, the plan is expected to face intense negotiations with labor unions and employee representatives, who have already opposed plant closures and large-scale job cuts.
$VWAGY