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Volkswagen Announces Major Job Cuts In Cost-Saving Move

Anis

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108078929-1734719640270-gettyimages-2190144156-20090101241220-99-391156.jpeg Volkswagen revealed some significant changes to its domestic operations on Friday. The carmaker announced that it will reduce capacity in its German operations and lay off over 35,000 employees in the upcoming years.

To prevent widespread strikes, the company was able to reach an agreement with the unions, according to Reuters. The deal was dubbed a "Christmas miracle" by union leaders following 70 hours of talks with the company. VW also backed off from its demand for a 10% wage cut and stated that there would be no immediate site closures or layoffs.

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Notably, since September, Volkswagen has been discussing what steps it must do to compete with its Chinese rivals with union leaders. The company has been having trouble because of the poor public acceptance of electric vehicles and the weak demand in Europe.
About 100,000 workers have participated in two different strikes in the past month to oppose measures to reduce expenses. These were the biggest strikes in the history of the company.

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Issuing a statement, Volkswagen CEO, Oliver Blume said, “With the package of measures that has been agreed, the company has set a decisive course for its future in terms of costs, capacities and structures. We are now back in a position to successfully shape our own destiny.”


The German automaker added that it is looking into options for its Dresden factory and repurposing its Osnabrueck facility, and that this deal will help it save €15 billion a year in the medium term. It also said that there won't be any significant impact on its guidance for 2024. The facility will likewise stop producing vehicles by the end of 2025. VW-VOLKSWAGEN-AUTO-PLANT-MANUFACTURING-BLOOMBERG.jpg

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Anis

Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........

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JPJ Running Numbers

KUALA LUMPUR

VPR4714

SELANGOR

BSH5970

JOHOR

JYG3509

PULAU PINANG

PRT7933

PERAK

APB192

PAHANG

CFD4137

KEDAH

KGC1746

NEGERI SEMBILAN

NEG9628

KOTA KINABALU

SJM4925

KUCHING

QAB1253M

Last updated 06 Sep, 2025

Fuel Price

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RON 95

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RON 97

RM 3.16

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RM 5.00

VPR

RM 6.23

Diesel

EURO 5 B10

RM 2.88

EURO 5 B7

RM 3.08

Last updated 04 Sep, 2025

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