Volkswagen Plans to Cut 50,000 Jobs Globally by 2030 and Restructure Operations

Volkswagen Group announced on June 18 that it is accelerating its business restructuring in response to factors such as geopolitical tensions and intensifying industry competition. The company plans to cut 19,000 jobs in Germany by the end of this year and approximately 50,000 positions globally by 2030. To date, Volkswagen has already reduced costs by around €1 billion (approximately RMB 7.8 billion) across its various brands, with a target of achieving annual net cost savings of €6 billion by 2030. The restructuring measures include reducing administrative and operational expenses, optimizing production plant layouts, streamlining organizational structures, and accelerating technological development. Company executives stated that cost-cutting alone will not be sufficient to return to profitability, and emphasized that further reforms will be implemented to address prolonged market volatility.