Volkswagen is planning to eliminate up to 100,000 jobs over the coming years and discontinue production at four of its German plants, according to reports citing confidential documents.
The sweeping restructuring effort, attributed to the company’s CEO, represents one of the most drastic workforce reductions in the history of the German automotive industry.
The reported cuts come amid intensifying internal pressure at the Wolfsburg-based group.
A Volkswagen spokesperson declined to comment on the confidential documents, offering no immediate confirmation or denial of the specific figures.
The reported cuts come amid intensifying internal pressure at the Wolfsburg-based group.
Six of Volkswagen’s nine board members reportedly believe the automaker is facing an existential crisis, according to earlier reports from manager magazin and Welt.
The consensus among executives suggests that the current trajectory is unsustainable without radical changes to the company’s cost structure and operational footprint.