More than 35,000 jobs are to be cut at Volkswagen’s core brand, 7,500 at Audi and around 4,000 at Porsche. Other brands and subsidiaries also face cuts.
Germany’s car industry is grappling with weak sales, growing competition from China and difficulties in the shift to electric mobility, as well as EU climate targets aimed at lowering emissions and US tariffs.
With the way things are going, we can expect more job cuts in the future, unfortunately.
Probably, although these job cuts at Volkswagen have been announced already in the spring. That’s not good for the workers, but not news, and it’s also not only VW or European producers that are affected but everyone around the globe. China’s domestic market has been experiencing huge job cuts over devastating a devastating price war (even BYD itself warned of a “bloodbath” in the Chinese car market). China is now trying to use foreign markets as some sort of dumping ground to sell its overcapacity, which is a huge issue here.