Volkswagen has already announced 50,000 job cuts across its businesses, including Porsche and Audi|@VW|X
Volkswagen CEO Oliver Blume informed in an internal memo that the company is reviewing whether it needs to cut up to 50,000 more jobs.
It would bring the total number of planned job losses at the German automaker to around 100,000 worldwide. It has already announced 50,000 job cuts across its businesses, including Porsche and Audi.
Europe’s biggest carmaker is preparing for another round of cost-cutting as it struggles with falling profits, tariffs, and tougher competition in the global car market.
Company leaders say Volkswagen’s operating costs remain significantly higher than those of its rivals, making further changes necessary.