The future of Volkswagen may look vastly different in the next four years than it does now, as the automaker’s board of directors approved a plan to slash 50,000 jobs, end several models, and close four German plants.
The move is called Future Plan 2030, and, according to a Volkswagen news release announcing its approval, “enables the Volkswagen Group to pave the way for sustainable long-term success. The Future Plan 2030 sets the stage to make the Volkswagen Group and its brands stronger, more competitive and better positioned for the future. The Executive Board will now jointly drive the necessary measures, collaborating with the brands, subsidiaries and employee representatives.”
“Its 12 initiatives are designed to make the Group and its brands more resilient and competitive under demanding market conditions,” the company said.
They include cutting the number of models offered by about 50% by 2035, cutting leadership, and cutting jobs.
“According to the analysis underlying the Future Plan 2030, a Group-wide workforce adjustment of approximately 50,000 positions – including management roles – will be necessary,” Volkswagen said.
The company had already announced the reduction of 35,000 jobs in Germany by 2030, Business Insider reported.
UPI said those are in addition to the 50,000 positions to be lost announced this week.
The company currently has about 650,000 employees, The Associated Press reported.
Chief employee representative Daniela Cavallo, who was critical of the plan over the summer, said it was “a necessity for our company to move successfully into the next decade without the associated undertakings coming only on the side of the employees.”
Business Insider said the move was necessary because Volkswagen has faced steep competition from Chinese automakers, the high cost of electric vehicle development, US automotive tariffs, and high energy costs.
As for the four plants in Germany that are slated to close, the company is looking at alternate uses, according to Business Insider.
Union leaders backed the plan, according to UPI.
“In this crisis situation, we fought hard for good solutions,” Christiane Benner, president of the union IG Metall, said in Volkswagen’s news release. “The executive board now has the foundation to tackle the major tasks ahead.”
In addition to the Volkswagen brand, the company also owns Audi, Porsche, Skoda, Seat, Bentley and Lamborghini, according to the BBC.
©2026 Cox Media Group
