Volkswagen crisis

Volkswagen shares rise after huge savings package

Last night, the news came that the pressured German car manufacturer Volkswagen will cut another 50,000 jobs by 2030. A tough day for German industrial workers – but the news is seen as positive on the Frankfurt Stock Exchange. The share rose around 6 percent on Friday morning.

In addition to the job cuts, just over half of the planned new car models will be scrapped already at the idea stage.
Volkswagen crisis 

VW clubs large savings package – 50,000 more jobs could go

Volkswagen's board has unanimously approved a comprehensive restructuring plan that is expected to mean that around 50,000 more jobs will disappear, the German automotive giant writes in a press release.

The cuts are intended to reduce costs and strengthen the company's position in the increasingly fierce global competition.

The plan involves a simplified corporate structure and a significantly slimmed-down model portfolio, while VW is also tackling overcapacity in Europe.

The automotive giant announced almost two years ago that up to 50,000 jobs would disappear by 2030, and in July CEO Oliver Blume confirmed that about the same number more would need to be cut. No timetable has been given for the new cuts.

VW's crisis — that's the point

• Volkswagen considered reducing its workforce by a total of up to 100,000 employees this summer – including around 50,000 jobs announced since the end of 2024. At the same time, the closure of four German factories was discussed, according to German media.
• Union representatives on Volkswagen's supervisory board stopped the management's restructuring plan at a meeting on July 9, 2026.
• The management continued to work on a major restructuring to reduce costs and manage the group's overcapacity.
• IG Metall has warned of massive resistance to further cuts and factory closures.
• The cutback plans have raised concerns for up to 20,000 Swedish jobs and a total of 350,000 jobs in Europe's supply chain.