Volkswagen may cut 1 lakh jobs amid China competition, tariff pressure

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Volkswagen plans a major restructuring involving the closure of four German factories and the potential layoff of up to 100,000 jobs due to competitive pressures from China, US tariffs, and weakening demand in Europe. This move faces likely strong opposition from unions and a key state shareholder.

Volkswagen is reportedly considering a massive overhaul, including closing four German factories and significantly increasing job cuts, potentially impacting up to 100,000 roles. This drastic move comes as the automaker faces intense competition from Chinese rivals, US tariffs, and declining European demand. The proposals, set for discussion soon, are expected to face strong opposition from unions and a key state shareholder, highlighting the immense pressure on the German giant.