Volkswagen faces overhaul amid cost cutting reports
Car maker Volkswagen is reportedly preparing a major restructuring that could involve the loss of up to 100,000 jobs and the closure of four manufacturing plants in Germany, according to various media reports.
The plans are said to form part of a wider cost reduction strategy as the carmaker responds to intensifying competition, particularly from Chinese manufacturers. They would extend an earlier workforce reduction programme that had already targeted around 50,000 roles in Germany.
Investment across the group could also be reduced by about 15% to just over €130bn over the next five years, according to the same reports.
Sites in Hanover, Zwickau and Emden, along with an Audi plant in Neckarsulm, are among those reportedly affected, with production expected to end once current model cycles are completed.
Additional proposals under consideration are said to include changes to the structure of the Volkswagen brand, potentially involving a more decentralised operating model.
The company has not confirmed the details, while labour representatives in Germany have signalled strong opposition to large-scale job cuts and plant closures.
