German automaker Volkswagen is considering closing four plants in Germany and cutting up to 100,000 employees. This was reported by Qazaqyia.kz citing Kursiv Media.
According to Reuters, citing sources, this could be the largest restructuring in the history of the global automotive industry. The plans will be discussed at a meeting of the company's supervisory board on July 9.
Plants in Hanover, Zwickau, Emden, and the Audi plant in Neckarsulm are at risk of closure. These measures alone could affect more than 45,000 workers. Previously, the company had already planned to cut about 50,000 employees.
Volkswagen explains the need for reform by growing competition from Chinese manufacturers, high US tariffs, and declining demand for cars in Europe.
Company CEO Oliver Blume presented a deep transformation program to management. According to Manager Magazin, the concern may also cut investments by 15% to 130 billion euros over the next five years.
"The entire group, including brands and subsidiaries, must undergo far-reaching transformations," a company spokesperson said.
The IG Metall union and the works council have already stated they will oppose the cuts, while the authorities of Lower Saxony, considered the second-largest shareholder of the company, opposed the possible closure of plants.
At the end of the 2025 fiscal year, Volkswagen employed 667,164 people, almost 43% of them in Germany.
Earlier, Kursiv Avto wrote about how Volkswagen showed the interior of the updated Caddy, one of the popular commercial vehicles in Kazakhstan.