The Volkswagen Group has revealed a 'transformation program' that includes layoffs, potential factory closures and brand shutdowns.

Facing growing competition from China and rapidly advancing technology, the German auto giant said Thursday its board had approved a “comprehensive” restructuring.

Volkswagen plans to cut another 50,000 jobs worldwide as the automaker tries to lower costs after being squeezed by higher U.S. tariffs, slowing sales in China and tougher competition from rival ...

Volkswagen said Thursday it would cut another 50,000 jobs as it restructures due to competition from China, high energy prices, and a costly transition to electric vehicles. File Photo by Focke ...

Volkswagen is moving into a far more severe phase of restructuring. Europe’s largest automaker has cut its 2026 operating-return-on-sales outlook to no more than 1%, down from an earlier range of 4% ...

The reductions amount to roughly 15% of the group's global workforce and mark the automotive industry's largest-ever restructuring exercise, the company said in a statement.

The company said it had approved a plan involving the reduction of around 50,000 jobs. German car giant Volkswagen said Thursday that management and unions had agreed to cut a total of 100,000 jobs by ...

Memo confirms reports up to 100,000 job cuts being considered CEO says company has 20% cost disadvantage vs rivals Labour representatives have rejected restructuring plan -sources BERLIN, July 13 ...

Volkswagen’s supervisory board backed a sweeping restructuring that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint, giving chief executive Oliver Blume his ...

Volkswagen Group announced late Thursday that it plans to eliminate 50,000 jobs and cut half of its vehicle offerings. The German automaker is struggling with headwinds from increasing Chinese ...

The board of German car giant Volkswagen has approved a plan to cut another 50,000 jobs as part of the biggest restructuring in the group's almost nine-decade history. It brings the total number of ...