German auto giant Volkswagen's management are set to meet on Thursday to thrash out plans for what could be the biggest ever restructuring in the global auto industry, with unions set to protest any mass job cuts.
Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market.
VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque.
The cuts at the Volkswagen brand are part of a deal reached with unions at the end of 2024, which also ruled out plant closures in Germany until at least the end of the decade.
But CEO Oliver Blume is now eyeing cutting 100,000 jobs worldwide, as well as the closure of three German VW plants and an Audi factory, weekly Manager Magazin reported, citing company sources.
