Volkswagen Plans Major Job Cuts | Global News

Volkswagen is poised for a massive restructuring, eyeing up to 100,000 job cuts—double its earlier target—as profits plummet and global competition intensifies. Facing a 60% drop in operating profit and mounting pressure from Chinese automakers, the German giant must slash costs that are 20% higher than rivals. Four factories, including electric vehicle plants, are under threat, while sales in key markets like China and the U.S. slump. Industry insiders suspect the 100,000 figure may be a bargaining chip, but the auto giant’s future hinges on bold, painful cuts. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/19386a4cc87ffcd9