Volkswagen is cutting an additional 50,000 jobs in its biggest restructuring in nearly 90 years

German automaker Volkswagen has approved a massive overhaul that will eliminate an additional 50,000 jobs worldwide by 2030. This latest round of cuts comes on top of 50,000 reductions already underway, bringing the company's total planned job cuts to 100,000 by the end of the decade. The sweeping plan marks the most aggressive restructuring in the carmaker's nearly 90-year history as it attempts to lower costs and secure its future.

The cuts are driven by falling profits, sluggish European sales, and intense pressure from low-cost Chinese electric vehicle makers. Volkswagen currently suffers from huge overcapacity in Europe, maintaining factory space to build roughly 500,000 more cars each year than customers are buying. To cut expenses and simplify operations, the company also plans to slash its vehicle lineup by as much as half over the coming years, retiring slow-selling models to focus solely on high-volume cars.

The reductions will impact both office managers and plant workers across the wider group, which includes brands like Audi, Porsche, and Skoda. Under agreements with worker unions, forced firings remain ruled out through 2030, meaning positions will largely be eliminated through early retirements, voluntary buyouts, and leaving empty jobs unfilled. While union compromises prevented immediate factory shutdowns, the carmaker warned that four German manufacturing plants face an uncertain future once current car models reach the end of production.