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German automaker Volkswagen has announced plans to cut around 100,000 jobs by 2030 as part of a sweeping restructuring aimed at improving competitiveness and reducing costs.
The company’s “Future Plan 2030” includes an additional 50,000 job cuts on top of roughly 50,000 positions already targeted for reduction, effectively bringing the total to about 100,000.
Volkswagen is also planning to halve its vehicle model range and reduce product complexity by about 75 percent.
The company says it is facing intense competition from Chinese automakers, weak demand and high costs, as well as the impact of US tariffs.
The restructuring could also affect production at four German plants—Emden, Zwickau, Hanover and Neckarsulm—amid more than 500,000 units of excess production capacity in Europe.
The measures represent one of the largest restructuring efforts in the automotive industry and are aimed at restoring Volkswagen’s profitability and competitiveness by 2030.