Volkswagen will eliminate 50,000 jobs in Germany by 2030 as its profits hit a seven-year low. Chief Executive Oliver Blume confirmed the cuts will affect the entire group, including Audi and Porsche. Europe's largest automaker reported a nearly 44% drop in post-tax profits for 2025, attributing the decline to U.S. import tariffs, fierce competition from China, and high restructuring costs associated with the transition to electric vehicles.
Finance chief Arno Antlitz emphasized the necessity of "rigorously" reducing costs, stating that the group's current profit margin is unsustainable. The company anticipates a recovery next year but stresses a continued focus on cost-cutting measures. Volkswagen has already secured a deal with unions to reduce over 35,000 jobs by 2030, aiming to save approximately €15 billion.