Volkswagen to cut up to 50,000 jobs amid growing Chinese competition
Volkswagen Group is preparing to trim its vehicle range substantially while removing 50,000 roles under newly introduced corporate restructuring plans.
The company's Supervisory Board has ‘unanimously approved’ the new ‘Future Plan 2030’ strategy as it seeks to reduce expenditure in response to rising market rivalry from China.
Consequently, Volkswagen intends to contract its car model lineup by roughly 50 per cent. It also intends to ‘reduce its offering complexity’ – decreasing trim options and specifications – by about 75 per cent.
The carmaker will downsize its workforce by approximately 50,000 positions. As this step is ‘beyond existing programs’, previously planned job cuts will continue to be rolled out as they were scheduled.
Merely a casual observation, but round here we see lots of Chinese cars on the road, far more than we did a couple of years ago.
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