Volkswagen to Slash 100,000 Jobs by 2030 Amidst Competition and Tariffs

Volkswagen has announced a massive restructuring plan that will result in the elimination of 100,000 jobs by the end of the decade. This significant workforce reduction, agreed upon by management and unions, is a response to mounting pressures including U.S. tariffs and intense competition from Chinese automakers.

The German automotive giant will also halve its product line as part of this sweeping cost-cutting initiative. The company aims to streamline operations and adapt to the rapidly changing global automotive landscape, which includes the ongoing transition to electric vehicles and new mobility solutions.