Volkswagen Group’s supervisory board has approved Future Plan 2030, which includes a further group-wide workforce adjustment of about 50,000 positions, including management roles.
The latest round of job cuts comes after an announcement earlier this year of 50,000 job cuts - taking the total number of VW Group planned job cuts by the end of the decade to 100,000.
The latest plan was unanimously approved and will now move into implementation with the executive board working alongside brands, subsidiaries and employee representatives.
Volkswagen Group chief executive Oliver Blume said: “The Supervisory Board has unanimously approved the Executive Board’s Future Plan presented today. This is a strong signal for the future of the Volkswagen Group.
“We are taking responsibility for our entire workforce, for our partners and for industrial jobs worldwide. Over the coming years, we will invest a three-figure billion sum to make our iconic brands even more attractive, stronger and more competitive."
The German auto giant said the workforce reduction is needed beyond existing programmes as part of a broader transformation effort.
It said the adjustment is intended to align workforce capacity with what it called economic reality, amid changing demand, technological shifts and intensifying global competition.
The plan also includes a review of production structures in Europe. Volkswagen said a concept for a sustainable and competitive production structure for its European plants is to be developed by the end of June 2027.
The supervisory board said the group’s European capacity currently exceeds demand by more than 500,000 units.
It added that a competitive future production allocation for the Emden, Zwickau, Hanover and Neckarsulm plants cannot currently be secured on a staggered basis from 2031 to 2034.
Alternative uses for those plants are being assessed in parallel.
Future Plan 2030 also sets out changes to Volkswagen’s product range. By 2035, the group plans to reduce its model portfolio by around 50% and cut offering complexity by about 75%.
On financial targets, Volkswagen said it is planning for annual sales of nine million vehicles and an operating margin of 9% by 2030. That would correspond to an operating result of about €31bn, with €37bn in overhead costs and a target of €135bn for capital expenditure and research and development in the 2027 to 2031 planning period.
The programme also includes measures aimed at leaner leadership structures, shorter decision-making lines, a review of the group structure and a streamlining of the investment portfolio by around one-third.
