Last mentioned: 5d ago
Union Negotiations
Expected start of formal talks with IG Metall regarding the scale of redundancies and plant futures.
Efficiency Deadline
Target date for achieving the initial phase of the performance program and margin recovery.
Restructuring Announcement
CEO Oliver Blume confirms significant job cuts are necessary to meet €10B savings target.
Fiscal Year Close
VW records a 50% drop in annual profit amid cooling EV demand and China competition.
Volkswagen is moving forward with significant workforce reductions in Germany following a fiscal year where profits plummeted by 50%. The automaker is grappling with high domestic labor costs, intensifying competition from Chinese EV manufacturers, and the impact of new trade tariffs.