Volkswagen Group CEO Oliver Blume recently confirmed in an internal memo to the staff that the German automotive giant could downsize its global workforce by up to 100,000 jobs, which is double compared with earlier estimates.
The Volkswagen group, which is behind Porsche, Audi, and Skoda, had earlier stated it would trim its workforce by 50,000 jobs in Germany by 2030. The move comes after the company posted a steep decline in profits last year due to low sales and rising competition from Chinese brands growing their footprints across Europe. US sales also declined partly due to tariffs on car imports.
