Volkswagen to Axe Another 50,000 Jobs by 2030

07:10 PM EDT, 09/03/2026 (MT Newswires) -- Volkswagen said Thursday it is planning to cut another 50,000 jobs by the end of 2030 after the German car giant's board approved a turnaround plan to tackle pressure from tariffs, Chinese competition and a shift in the auto industry. The company said "a further fundamental adjustment of the global workforce capacity" was needed to achieve its transformation and safeguard its competitiveness. It now aims to slash 100,000 roles in total by the end of the decade. "Over the coming years, we will invest a three-figure billion sum" to bolster its brands, including Audi and Porsche, CEO Oliver Blume said in a statement.