economy
March 11, 2026
Volkswagen to slash 50,000 jobs in Germany
Volkswagen has said it will cut 50,000 jobs in Germany by 2030 amid plunging profits, high energy costs and US tariffs
TL;DR
- Volkswagen to cut around 50,000 jobs in Germany by 2030.
- Plunging profits, soaring energy costs, and trade pressures are cited as reasons.
- Net income in 2025 fell to €6.9 billion, the weakest result since 2016.
- Revenues slipped to just under €322 billion in 2025.
- German auto sector struggling with surging energy prices, sluggish demand, Chinese competition, and US tariffs.
- Slower than expected transition to electric vehicles also a factor.
- Geopolitical tensions, tariffs, and intense competition characterized 2025.
- Energy markets facing renewed volatility due to US-Israeli bombing of Iran and Strait of Hormuz disruptions.
- European Commission considering emergency measures to shield manufacturers from high electricity costs.
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