Volkswagen, the German automaker behind brands such as Audi and Porsche, may cut up to 100,000 jobs and close factories in Germany as it faces US tariffs, weak demand in China, and stronger competition in Europe.

It aims to cut overhead costs by 11 billion euros (US$12.5 billion) by the end of the decade. It is also considering closing plants in Hanover, Zwickau, and Emden, as well as Audi’s factory in Neckarsulm.

Volkswagen employs about 657,000 people.

The company has already secured agreements for 28,000 workers to leave under an existing plan to reduce its workforce by 50,000 across the group by 2030.

A spokesperson said Volkswagen was working on a plan for the future to realign the company.

Volkswagen’s works council and IG Metall, Germany’s largest industrial union, said they would oppose any such plans.

🔗 Source: Bloomberg