Volkswagen Plans Massive Restructuring, Major Job Cuts Likely

German automobile giant Volkswagen Group is reportedly preparing one of its biggest restructuring exercises under the leadership of CEO Oliver Blume. According to reports, the company is considering a series of major measures, including large-scale job cuts, factory closures, and reduced investments, as part of its strategy to improve operational efficiency and address financial challenges.

The proposed restructuring could reportedly affect up to 100,000 jobs, representing nearly 15 percent of Volkswagen's global workforce. Reports also suggest that plans are already underway to eliminate around 50,000 positions. In addition, the company aims to reduce its capital expenditure by approximately 15 percent over the next five years, limiting total investments to around €130 billion as part of its long-term cost optimisation strategy.