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By The End of 2026, Volkswagen Plans To Lay Off 19,000 Employees In Germany
Volkswagen will reduce the workforce in Germany by 19,000 people by the end of the year, the CEO of that company, Oliver Blume, announced.
According to his words in a letter to shareholders, Volkswagen has already arranged the departure of more than 28,000 employees by the end of 2030, reports Handelsblatt.
Production costs in German plants have been reduced by more than 20 percent, while sustainable savings of around one billion euros have already been achieved, Blume noted.
At the end of 2024, the company reached an agreement with employee representatives to eliminate a total of 35,000 jobs by the end of the decade.
The company is now targeting annual net savings of six billion euros by the end of the decade. Despite progress in cutting costs, Volkswagen still faces strong external pressures, Blume added.
As he stated, the tariffs introduced by US President Donald Trump directly and indirectly cost the company around five billion euros per year.
The Audi brand, which does not have its own production in the United States of America and is therefore dependent on vehicle imports from Europe and Mexico, is particularly affected.
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