--- title: "Volkswagen to cut up to 100,000 jobs globally" type: "News" locale: "en" url: "https://longbridge.com/en/news/290959248.md" description: "Volkswagen plans to cut up to 100,000 jobs globally and close four German plants as part of a restructuring aimed at saving €11bn by 2030. CEO Oliver Blume is considering spinning off the VW brand to create a leaner structure. The move addresses intense competition from Chinese EVs and weak demand for electric vehicles, which recently caused Porsche to delay launches. Additionally, VW announced the sale of its marine-engine unit Everllence to Bain Capital for €7.4bn to focus on core business." datetime: "2026-06-26T11:34:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290959248.md) - [en](https://longbridge.com/en/news/290959248.md) - [zh-HK](https://longbridge.com/zh-HK/news/290959248.md) --- # Volkswagen to cut up to 100,000 jobs globally Volkswagen (VW) plans to cut up to 100,000 jobs around the world in the next few years as part of a dramatic overhaul. The German car giant plans to axe a sixth of its global workforce as part of a restructuring designed to save €11bn (£9.5bn) by 2030, according to local media. Oliver Blume, the chief executive, is also considering carving up the business and spinning off the namesake VW brand under the proposals, which will lead to the closure of four plants in Germany. He has presented his plan to top executives and will unveil it to the company’s wider supervisory board on July 9, Manager Magazin reported. It marks a dramatic escalation from the 50,000 job losses set out in a letter to shareholders by Mr Blume in March, which was itself higher than previous plans for 35,000 cuts. The company employs around 657,000 people worldwide. The restructuring comes as VW faces intense competition from China, which has flooded the European market with cheap electric vehicles (EVs). VW sales have remained static at around nine million vehicles a year as it grapples with the competition. At the same time, VW’s heavy investment in electrifying its cars is not paying off. Porsche, which is owned by Volkswagen, delayed the launch of its new electric SUV in September. It blamed the decision on weak demand for electric cars as it warned of a €5.1bn hit to profits. Under the restructuring plans, four German car plants will also be closed after being put under review. Sites in Hanover, Zwickau and Emden, along with an Audi plant in Neckarsulm, will be shut in the “medium term” once the models currently manufactured there are phased out. Around 40,000 people work at the plants, which produce around 750,000 cars a year. Shares in VW rose 0.7pc as analysts said the plan showed the company was finally confronting long-standing issues. Matthias Schmidt, of Schmidt Automotive Research, said: “The VW Group has suffered from years of neglect in readjusting workforce numbers due to the stranglehold the regional government and trade unions have on the company. The market reality is hitting the German giant hardest.” He added that the shift to EVs and a more automated production process was also driving job cuts. Mr Blume reportedly favours a leaner corporate structure, which has prompted the plans to spin off the VW brand. The company announced on Thursday the sale of its marine-engine unit Everllence to private equity firm Bain Capital in a deal worth €7.4bn (£6.4bn). Mr Blume said it was the “right time” to sell the division and that the deal would “allow us to focus even more strongly on our core business”. A Volkswagen spokesman said the company does not comment on “internal, confidential documents”, but added the industry is “undergoing a profound transformation”. The spokesman added: “The entire group – including brands and subsidiaries – have to transform profoundly. To that end, the executive board has worked intensively over recent months on a future plan for the realignment of the company.” ### Related Stocks - [VWAGY.US](https://longbridge.com/en/quote/VWAGY.US.md) - [VOW.DE](https://longbridge.com/en/quote/VOW.DE.md) - [VWAPY.US](https://longbridge.com/en/quote/VWAPY.US.md) - [VOW3.DE](https://longbridge.com/en/quote/VOW3.DE.md) - [PAH3.DE](https://longbridge.com/en/quote/PAH3.DE.md) - [POAHY.US](https://longbridge.com/en/quote/POAHY.US.md) ## Related News & Research - [Volkswagen Backer Porsche SE Calls for Faster Overhaul After $3.5 Billion Hit — Update](https://longbridge.com/en/news/295197034.md) - [VW to Close Three Plants in China as Part of Efforts to Revive Performance](https://longbridge.com/en/news/294698084.md) - [Volkswagen to overhaul US strategy with planned pick-up truck, source says](https://longbridge.com/en/news/295231937.md) - [Porsche Automobil: Major impairments on core holdings drove a €2.2 billion loss, despite resilient portfolio gains](https://longbridge.com/en/news/295188533.md) - [Volkswagen’s new electric era begins with reveal of ID. ERA 5X SUV](https://longbridge.com/en/news/295301574.md)