Europe’s largest carmakerVolkswagenhas revealed plans to cut around 50,000 jobs by 2030 after profits plunged sharply last year.
TheGerman automotive giantsaid its post-tax profit fell by around 44% in 2025, dropping from €12.4billion (£10.5billion) to €6.9billion (£5.8billion). Despite remaining one of the world’s biggest car manufacturers, the company reported that overall sales slipped slightly by 0.8% to just under €322billion (£272billion).
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The results mark Volkswagen’s lowest profits in a decade, highlighting mounting pressure on the global car industry.
Chief executive Oliver Blume said the company now plans to reduce its workforce significantly in order to stabilise the business.
Around 50,000 jobs are expected to be cut across Germany by the end of the decade, although the company has previously reached agreements with unions to avoid compulsory redundancies.
Volkswagen has been grappling with a series of challenges including weaker demand across Europe, slower-than-expected adoption of electric vehicles and growing competition from Chinese car manufacturers.
Trade tensions have also added pressure, with tariffs introduced under the administration ofDonald Trumpaffecting parts of the global automotive supply chain.
Volkswagen’s chief financial officer Arno Antlitz said the company may need to take further action to reduce costs.
Source: Daily Express :: World Feed
