German automaker Volkswagen plans to cut 50,000 jobs at home by 2030, the company said in a letter to shareholders on March 10.
The decision was made as corporate profits declined to their lowest level in a decade.
Volkswagen to Cut 50,000 Jobs by 2030 as Profit Pressures Mount
Europe’s largest carmaker is wrestling with a ‘challenging environment,’ from China to tariffs.
The logos of Volkswagen cars in Frankfurt, Germany, on Sept. 13, 2024. Michael Probst/AP Photo
