To say the Volkswagen Group is in a pickle would be an understatement. The fact that it’s moving Golf production outside Germany by relocating its most important product to Mexico from 2027 speaks volumes about the cost problems the automotive giant is facing. To cut expenditures, it’s also eliminating as many as half of its models and slashing the number of options by 75 percent. It’s also cutting 50,000 jobs across its multiple brands and reducing annual vehicle production by one million.
But that doesn’t seem to be enough to put the VW Group back on track. While the company isn’t confirming reports about closing as many as four factories, another rumor related to its downsizing efforts is gaining traction. As German media reported over the last few days, the layoffs could double to 100,000 over the coming years. Reuters has seen an internal memo circulating within the company, which warns of a “theoretical deduction” of 50,000 additional jobs across the Group.
