Volkswagen is considering its most aggressive restructuring in decades. The plan involves cutting up to 100,000 jobs. The automaker may close four German factories in Hanover, Zwickau, Emden, and an Audi plant in Neckarsulm.
High costs and weakening European demand are driving these potential measures. The company faces intense competitive pressure from Tesla and BYD. A difficult transition to electric vehicles has further strained operations.
Volkswagen's works council and the IG Metall union have pledged to fight the proposed cuts. This move reflects a broader crisis across the European automotive sector. Other major manufacturers are also implementing cost-cutting measures.