Wolfsburg, Germany, March 10, 2026 (AFP) - Volkswagen says to cut 50,000 jobs as profit slides

NAMPA / AFP

2026-03-10

Germany's automotive giant Volkswagen said Tuesday it would cut 50,000 jobs at home by 2030 as its profit slid to its lowest level in almost a decade. The news comes as the 10-brand group seeks to weather stiff Chinese competition, especially in electric vehicles, US tariffs and high costs. "In total, around 50,000 jobs are due to be cut by 2030 across the Volkswagen Group in Germany," Volkswagen CEO Oliver Blume said in a letter to shareholders......

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