The EU’s largest automaker, Volkswagen (VW), has announced that it will cut about 50,000 jobs in Germany, citing plunging profits, soaring energy costs and mounting trade pressures.
In its annual report on Tuesday, VW said that net income nearly halved in 2025, falling to €6.9 billion (over $8 billion), its weakest result since the 2016 diesel scandal, while revenues slipped to just under €322 billion.
VW will “systematically reduce our costs” in the coming years, executives said, confirming that tens of thousands of positions will be slashed across the group’s German operations by 2030 on top of previously announced headcount reductions. In…
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