Volkswagen AG will cut 19,000 jobs in Germany. The company plans to complete these reductions by the end of 2026. CEO Oliver Blume detailed the restructuring in prepared remarks for the June 18 annual general meeting.
The company will use voluntary measures and early retirement to avoid forced layoffs. These cuts contribute to a binding target of eliminating over 28,000 positions. Volkswagen expects to reach this total by 2030. The strategy aims to lower factory costs and align production capacity with demand forecasts to improve profitability.