Last mentioned: Mar 11, 2026
Efficiency Deadline
Target date for achieving the initial phase of the performance program and margin recovery.
Union Negotiations
Expected start of formal talks with IG Metall regarding the scale of redundancies and plant futures.
Job Cut Announcement
Management confirms significant workforce reductions are necessary in Germany.
Restructuring Announcement
CEO Oliver Blume confirms significant job cuts are necessary to meet €10B savings target.
Fiscal Year Close
VW records a 50% drop in annual profit amid cooling EV demand and China competition.
Profit Warning
Company flags declining margins due to high energy costs and EV competition.
Efficiency Program Launched
VW announces initial plans to save €10 billion by 2026.
Volkswagen is moving forward with significant workforce reductions in Germany following a fiscal year where profits plummeted by 50%. The automaker is grappling with high domestic labor costs, intensifying competition from Chinese EV manufacturers, and the impact of new trade tariffs.
Volkswagen has announced plans for significant workforce reductions across its German operations following a sharp decline in quarterly profits. The move signals an aggressive acceleration of the company's €10 billion cost-cutting program as it struggles with high production costs and fierce global competition.