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Volkswagen declines to comment on reported job cuts - Finance news and analysis from Global Banking & Finance Review
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Volkswagen declines to comment on reported job cuts

Published by Global Banking & Finance Review

Posted on June 26, 2026

1 min read

· Last updated: June 26, 2026

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Volkswagen Responds to Reports of Global Job Cuts amid Industry Transformation

Volkswagen Addresses Workforce Reduction Reports

BERLIN, June 26 (Reuters) - Volkswagen on Friday declined to comment on a report stating that it aims to slash up to 100,000 jobs from its current workforce worldwide over the next few years.

Official Statement from Volkswagen

"The relevant facts of the matter will be discussed and approved by the relevant bodies. We will not pre-empt this process," the group said in a statement in response to a report from Manager Magazin.

Executive Board Perspective

"The Group Executive Board has repeatedly emphasised that our current business model no longer works for all brands in its present form," it added, saying both the group and the automotive industry were undergoing a far-reaching transformation.

Industry Context and Editorial Credits

(Writing by Friederike Heine, Editing by Linda Pasquini)

Key Takeaways

  • VW emphasized that decisions on job reductions must follow approval by relevant corporate bodies and that they will not 'pre‑empt this process.'
  • The company reiterated that its current business model is no longer viable for all brands, amid an industry‑wide transformation.
  • Recent data shows VW plans to reduce some 19,000 jobs in Germany by the end of 2026 and more than 28,000 by 2030, under cost‑cutting and restructuring efforts.

Frequently Asked Questions

Did Volkswagen confirm the reported job cuts?
No, Volkswagen declined to comment on the reported job cuts, stating that relevant bodies must review the matter.
How many jobs might be affected at Volkswagen?
Reports suggest up to 100,000 jobs could be cut worldwide over the next few years.
What reason did Volkswagen give for possible changes?
Volkswagen said that its current business model no longer works for all brands and emphasized industry-wide transformation.
Who reported the potential Volkswagen job cuts?
The report originated from Manager Magazin.
What is Volkswagen's official stance on the matter?
Volkswagen stated it will not pre-empt discussions and approvals by the relevant bodies regarding job cuts.

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