Volkswagen announces 50,000 job cuts in major restructuring

Volkswagen has approved plans and announced its biggest restructuring in its 89-year history, cutting up to 50,000 jobs globally (bringing total planned reductions to 100,000 by 2030 across brands like Audi and Porsche) and potentially closing plants amid lackluster sales, growing Chinese competition, and US tariffs.

• Volkswagen plans to cut up to 50,000 jobs.
• Restructuring could include plant closures due to lacklustre sales and Chinese competition.
• Volkswagen is cutting 50,000 jobs globally.
• The restructuring plan addresses the future of four German plants.
• Volkswagen board approved cutting an additional 50,000 jobs.
• Total planned cuts reach 100,000 by 2030 across the group including Audi and Porsche.