Volkswagen CEO Oliver Blume has confirmed to employees that the automaker may need to eliminate an additional 50,000 jobs, bringing the total number of planned cuts to 100,000.
In an internal memo, Blume stated that the company must continue reducing costs to remain competitive against rivals, effectively validating earlier reports of a massive restructuring effort.
The admission marks a significant escalation in the scale of Volkswagen’s transformation.
While previous reports had cited confidential documents suggesting the potential for 100,000 job losses and the closure of four German production plants, this is the first time the CEO has explicitly acknowledged the magnitude of the cuts in direct communication with staff.
The move underscores the severity of the cost pressures facing the German automaker as it navigates a challenging global market.
Volkswagen’s restructuring plan aims to streamline operations and improve efficiency across its global footprint.