The giant German car manufacturer Volkswagen is due to abolish 50,000 jobs by 2030, said the CEO of the Oliver Blume Group today at the company's annual general meeting.
Blome told the shareholders at the convention, held online, that the situation of Volkswagen It is 'tensive and demanding', stressing that conditions in the car industry deteriorated further in 2026.
"Our business model, which has been successful for decades, no longer works today. We must develop it further," he said.
The CEO presented important points of the company's new strategy for 2030, which had been made public in May.
The objective of the Volkswagen is to become by the end of this decade "the most attractive car manufacturer in the world," he said.
New models, such as the electric ID.Polo, recently unveiled, show that the company is on the right track and "in front of competition again", Blame argued. "However we don't earn enough money from them," he continued.
Only in the VW brand of the group, 35,000 jobs will be abolished by 2030. The workforce will already have shrunk by 19,000 by the end of 2026, Blome said, explaining that about 28,000 voluntary departures have already been agreed.