The world's second-largest automaker plans to halve its lineup of cars as part of its second major overhaul in two years.
It said it will concentrate on the most attractive segments, and adjust production capacity to the current market reality, as it grapples with high costs and intensifying competition in and from China.
Volkswagen's proposal to slash tens of thousands more jobs and close factories faces a major test on Thursday as the groups that control Europe's largest carmaker meet to discuss the plans, drawing worker protests at plants across the country.
Volkswagen's supervisory board will meet on July 9 to discuss what could become the carmaker's biggest transformation to date, marking a make-or-break moment for Chief Executive Oliver Blume in tackling an escalating crisis.
Volkswagen CEO Oliver Blume faces perhaps the biggest test of his leadership this week: persuading the German carmaker's supervisory board to accept painful job cuts and factory closures as it struggles to fend off Chinese rivals.
Volkswagen is bracing for a high-stakes boardroom showdown on July 9. It follows reports that the German auto giant is weighing up closing four factories and implementing as many as 100,000 job cuts.
VWAGY is weighing up to 100,000 job cuts and the closure of four German plants as part of a sweeping restructuring and cost-cutting plan.
Markets rarely misprice $360 billion global conglomerates. When they do, though, it's wise to pay attention.
Shares in the German carmaker slumped following reports of a plan to cut up to 100,000 jobs.
Volkswagen management has told the car group's employee side that currently agreed job cuts are insufficient, according to a note from the works council seen by Reuters on Monday.
Volkswagen is a Buy as the market overstates 2025's margin collapse as structural, ignoring a clear path to 2026 recovery. VWAGY management guides to 4.0–5.5% operating margin in 2026, implying €4–9 billion EBIT recovery and 4–5x 2026 earnings valuation. Restructuring, including potential 100,000 job cuts and €3–6 billion EBIT uplift, is the primary catalyst for margin normalization.
German carmaker Volkswagen plans to end its automated driving tie-up with auto supplier Bosch as part of a wider push to cut costs and boost competitiveness, Germany's Bild newspaper reported on Sunday, citing multiple sources.