Report: VW board weighs cutting up to 100,000 jobs

According to media reports, VW's management board is considering cutting up to 100,000 jobs (around 15 percent of the group's workforce) as well as closing four plants. The background is weak demand and intensified competition from Chinese manufacturers. Update 10 July 2026: The supervisory board rejected the savings package by 12 votes to 7 (the employee side plus Lower Saxony) and postponed the decision on plant closures; group CEO Blume nonetheless wants to push ahead with the realignment, and IG Metall mobilised with a nationwide day of protest. Update 13 July 2026: Group CEO Blume quantified the restructuring himself for the first time — without changes to labour costs, around 50,000 additional jobs worldwide would be at risk according to an intranet interview, on top of the 50,000 already agreed in Germany (reportedly, including Reuters/Tagesspiegel). Update 13 Jul 2026: In an internal memo, CEO Blume for the first time himself put the possible additional cuts at around 50,000 jobs worldwide (on top of the 50,000 already agreed through 2030) unless labor costs come down. Update 24 July 2026: Presenting the half-year results, CFO Arno Antlitz for the first time publicly put the possible additional cuts at around 50,000 jobs (previously communicated only internally by Blume) — together with the 50,000 already agreed through 2030 this gives the order of magnitude of up to 100,000. First-half operating profit fell 12% to €5.9bn and profit after tax 31% to €3.1bn; the 2026 revenue guidance was cut from up to +3% to as much as −3%. Antlitz called the margin of roughly 4% a 'wake-up call' requiring a second restructuring step, and did not commit on plant closures (sources: CNBC, CNN, AFP/France24, 24 July 2026). Update 4 September 2026: The supervisory board unanimously approved the 'Zukunftsplan 2030' — around 50,000 additional jobs worldwide by 2030 (separate follow-up entry dated 4 September 2026, which carries the figure).