Frankfurt (Germany), 26 June (LaPresse) – Volkswagen is reportedly considering a restructuring plan that could involve cutting up to 100,000 jobs worldwide over the coming years, almost double the target of around 50,000 redundancies already planned by 2030. This is according to the weekly magazine Manager Magazin, citing sources within the group. According to the report, Chief Executive Oliver Blume is said to have presented the plan for the group’s revitalisation to the board of directors, without, however, specifying a definitive number of redundancies. The plan is also said to envisage, in the medium term, the closure of four plants: the Volkswagen plants in Hanover, Zwickau and Emden, and the Audi plant in Neckarsulm, with production ceasing at the end of the current models’ life cycles. The magazine also reports that the group is considering a major corporate reorganisation, involving the spin-off of the Volkswagen brand and the Components division into separate companies – a move that could facilitate future capital market operations. A Volkswagen spokesperson, Der Spiegel reports, declined to comment on confidential internal documents, merely reiterating that the group, like the entire automotive industry, is undergoing a major transformation to become more efficient, leaner and better able to exploit technological synergies. The supervisory board is expected to examine the plan on 9 July.
Volkswagen plans to cut up to 100,000 jobs
Frankfurt (Germany), 26 June (LaPresse) – Volkswagen is reportedly considering a restructuring plan that could involve cutting up to 100,000 jobs worldwide over the coming years, almost double the target of around 50,000 redundancies already planned by 2030. This is according to the weekly magazine Manager Magazin, citing sources within the group. According to the report, Chief Executive Oliver Blume is said to have presented the plan for the group’s revitalisation to the board of directors, without, however, specifying a definitive number of redundancies. The plan is also said to envisage, in the medium term, the closure of four plants: the Volkswagen plants in Hanover, Zwickau and Emden, and the Audi plant in Neckarsulm, with production ceasing at the end of the current models’ life cycles. The magazine also reports that the group is considering a major corporate reorganisation, involving the spin-off of the Volkswagen brand and the Components division into separate companies – a move that could facilitate future capital market operations. A Volkswagen spokesperson, Der Spiegel reports, declined to comment on confidential internal documents, merely reiterating that the group, like the entire automotive industry, is undergoing a major transformation to become more efficient, leaner and better able to exploit technological synergies. The supervisory board is expected to examine the plan on 9 July.
