Volkswagen To Cut 50,000 More Jobs By 2030

Volkswagen, the German carmaker, has approved plans to cut another 50,000 jobs by 2030.

According to the BBC, the group, which includes Audi, Porsche, Skoda and the Volkswagen brand, is also considering the future of four of its plants in Germany.

In a statement, Volkswagen’s Chief Executive Officer, Oliver Blume, described the latest plan as a “strong signal” for the company’s future, saying the group is “taking responsibility for our entire workforce.”

Blume said the company needs to fundamentally adjust its global workforce to safeguard its competitiveness amid changing demand and technological developments.

“A group-wide workforce adjustment of approximately 50,000 positions – including management roles – will be necessary,” the Volkswagen CEO said.

The German automaker also plans to reduce the number of models it produces by 50 percent by 2035 and cut the complexity of its product offering by 75 per cent.

Volkswagen said it would prioritise its “most compelling vehicles” and increase production volumes for each model as part of efforts to reduce costs.

The company is also weighing options for its operations in Emden, Zwickau, Hanover and Neckarsulm, where it said production capacity currently exceeds demand.

“Alternative uses for these plants are being assessed,” the automobile manufacturer said.

The latest announcement comes after Blume said in July that the company was considering further job cuts.

The latest reduction brings the total number of jobs Volkswagen plans to eliminate to 100,000, following its announcement in March that it would cut 50,000 positions.