After a sharp decline in the Volkswagen Group’s profit last year, the company is planning to cut far more jobs than previously announced.
In a letter to shareholders, CEO Oliver Blume says that roughly 50,000 positions will be eliminated across the German Volkswagen Group by 2030. This is a significant increase from the earlier target of 35,000 job cuts for the same period.
Earlier the firm reported a plunge in earnings. As of Tuesday, Volkswagen disclosed that its after‑tax profit for 2025 was €6.9 billion-a 44 % drop from €12.4 billion in 2024.
