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Mon, 13 Jul 2026

Mon, 13 Jul 2026 Volkswagen planning to cut up to 100,000 jobs globally

The group, which includes Porsche and Audi, has faced a steep fall in profits and tough competition from China.

* Volkswagen Group will cut up to 100,000 jobs, twice as many as previously stated.
* The company's costs are 20% higher compared to rival businesses and need to be reduced further.
* The cuts will be made across all brands, companies, and regions, with a focus on reducing costs and becoming more efficient.
* Four factories in Germany have been identified for potential closure, including two used for electric car production.
* Volkswagen's profits have fallen sharply in recent years, from €22.6bn in 2023 to just €8.9bn last year.
* The company has been hit by a decline in sales in key markets, particularly China and the US, due to increased competition from Chinese brands.
* The planned job cuts are part of a broader effort to reduce costs and improve efficiency across the company.