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  "path": "/lifestyle/cars/volkswagen-cut-jobs-2030-germany-market",
  "publishedAt": "2026-03-10T09:19:56.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Chinese car brand Chery launches new 'Super Hybrid' for just £19,995 - 'Exceptional value'",
    "Nigel Farage defends petrol and diesel drivers amid plans to 'shame' Rachel Reeves over fuel duty cut",
    "Congestion charge fears across UK city prompts huge campaign as drivers face eye-watering daily fee",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nVolkswagen has announced plans to slash 50,000 jobs before the end of the decade in a major cost-cutting exercise as it acknowledged a \"challenging environment\".\n\nThe German manufacturing giant recorded €321.9billion (£278.6billion) in sales revenue in 2025, which remained largely stable year-on-year.\n\n###\n\n\n\n\nIts operating profit declined from €19.1billion (£16.5billion) to €8.9billion (£7.7billion), which VW attributed to the impact of President Donald Trump's tariffs in the United States.\n\nIt also cited issues at Porsche, which announced that it would pause its transition to electric vehicles amid weak demand from its customer base.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThe company said it was looking to reach a margin of between eight and 10 per cent in 2030, while also cutting 50,000 jobs in Germany.\n\nBrands under the Volkswagen Group umbrella, including Audi, Porsche and Cariad software, have also launched cost-cutting measures.\n\nThe 50,000 job losses will affect the whole Group by the end of the decade, following intense discussions between the manufacturer and unions.\n\nIt was originally agreed in 2024 that it would slash the workforce by more than 35,000 and reduce costs by billions of euros a year.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nCommenting on the latest financial results, Oliver Blume, CEO of Volkswagen Group, said the brand remained \"on track\" despite global uncertainty.\n\nHe added: \"We have demonstrated that our substance is robust and that our future-oriented programs are working.\n\n\"Supported by strong financial momentum at year-end, we further strengthened our company. After three intensive years of realignment within the Volkswagen Group, we are seeing tangible progress.\n\n\"At the same time, we are operating in a fundamentally different environment. We are therefore determined to continue to pursue the course we have set.\"\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Chinese car brand Chery launches new 'Super Hybrid' for just £19,995 - 'Exceptional value'\n  * Nigel Farage defends petrol and diesel drivers amid plans to 'shame' Rachel Reeves over fuel duty cut\n  * Congestion charge fears across UK city prompts huge campaign as drivers face eye-watering daily fee\n\n\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nSimilarly, Arno Antlitz, CFO and COO of Volkswagen Group, noted difficulties around the world, as well as stronger competition, particularly from Chinese brands entering the European market.\n\nDespite this, VW Group managed to release 30 new models, as well as keep financial results relatively stable.\n\nMr Antlitz confirmed that it would continue to keep its internal combustion engine vehicles \"technologically competitive\", while also investing in electric vehicles.\n\nHe continued, saying: \"These were important steps to further boost the Volkswagen Group’s resilience. But the operating margin of 4.6 per cent adjusted for restructuring is not sufficient in the long run.\n\n###\n\n\n\n\n###\n\n\n\n\n\"We can only realise this if we continue to rigorously reduce costs, leverage Group synergies, reduce complexity and thus sustainably increase profitability. This is what we will focus on in the coming months.\"\n\n**_MORE TO FOLLOW..._**\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards:The GB News Editorial Charter **",
  "title": "Volkswagen to slash 50,000 jobs by 2030 amid 'challenging market environment'"
}