Volkswagen CEO Eyes Job Cuts Up to 100,000

By EC Assets · Published 26 June 2026

Volkswagen's CEO plans to reduce the company's workforce by up to 100,000 jobs in the coming years. This initiative, reported by Manager Magazin, comes as the automaker seeks to implement cost-cutting measures. CEO Oliver Blume stated these cuts will affect Volkswagen's main brand, along with Audi, Porsche, and its software subsidiary, Cariad. The company had previously agreed to other measures. Volkswagen shares climbed 2.4% on Thursday. The company has already reduced German factory costs by 20%. Over 50,000 jobs are set to be eliminated globally by 2030, with 19,000 of those reductions scheduled by the end of 2026. This article is intended for informational purposes only. It does not constitute investment advice.