WOLFSBURG, March 10 — Europe’s largest carmaker Volkswagen said it would cut 50,000 jobs in Germany by 2030 as it struggles to slash costs amid fierce competition in China, stagnant demand in Europe and US tariffs.
“In total, around 50,000 jobs are due to be cut by 2030 across the Volkswagen Group in Germany,” Volkswagen CEO Oliver Blume said in a letter to shareholders in the group’s annual report.
The group had already struck a deal with unions at the end of 2024 to cut 35,000 jobs by 2030, mostly at its namesake brand, as part of plans to save 15 billion euros a year. — AFP
