Volkswagen stock hits 15-year low amid 100,000 job cut reports

Volkswagen banal fell to its lowest level successful astir 15 years connected Monday aft reports that the German carmaker is considering cutting up to 100,000 jobs. Trading connected the Frankfurt banal speech saw the banal driblet adjacent to 2%, a determination that, if sustained done the close, would spot it astatine its weakest finishing level since October 2010, MarketWatch reported.

The reported occupation cuts would correspond the largest restructuring successful Volkswagen's history. A national woody finalized successful precocious 2024 had already acceptable a people of eliminating astir 50,000 positions crossed Volkswagen AG, Audi, Porsche, and bundle subsidiary CARIAD by 2030. The caller figures, if confirmed, would propulsion the full simplification to doubly that level, according to anterior Quartz reporting.

Among the sites nether information for closure are 3 Volkswagen plants — successful Hanover, Zwickau, and Emden — arsenic good arsenic Audi's installation successful Neckarsulm, which unneurotic employment much than 45,000 workers. A supervisory committee gathering to sermon the program is scheduled for July 9, Reuters reported. Volkswagen has not confirmed the specifics, with a institution spokesperson saying lone that "the full group, including its brands and subsidiaries, indispensable acquisition far-reaching change."

Labor absorption has been swift. IG Metall and Volkswagen's General Works Council released a associated connection saying that "should specified plans spell ahead, we would bash everything successful our powerfulness to forestall them."

The reported enlargement comes arsenic Volkswagen is already executing a important cost-reduction program. At its June yearly wide meeting, CEO Oliver Blume said departure agreements covering much than 28,000 employees had already been signed, with a people of yearly nett savings of implicit €6 cardinal by 2030. Volkswagen's German mill costs fell by much than 20% successful 2025 alone, the institution said.

Financial unit has mounted alongside the restructuring push. Volkswagen's first-quarter 2026 nett net fell 28% year-on-year to €1.56 billion, and gross edged down 2% to €75.7 billion. Volkswagen Group CFO Arno Antlitz has estimated the yearly outgo of U.S. tariffs astatine astir €4 billion. In China, the group's largest azygous market, first-quarter income fell 20% arsenic home automakers proceed to erode Volkswagen's presumption there.

Volkswagen banal has shed much than a 4th of its worth truthful acold successful 2026.