Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Volkswagen to cut more than 35,000 jobs in Germany by 2030

Published by Global Banking & Finance Review

Posted on December 20, 2024

1 min read

· Last updated: January 27, 2026

Add as preferred source on Google

Restructuring agreement announcement for BayWa amidst financial challenges - Global Banking & Finance Review — The image depicts BayWa's headquarters in Munich as the company announces its restructuring agreement until 2027, addressing financial losses and job cuts.

Global Banking & Finance Awards 2026 — Call for Entries

FRANKFURT (Reuters) - Volkswagen on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than

Volkswagen to Reduce Workforce by 35,000 Jobs in Germany

FRANKFURT (Reuters) - Volkswagen on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.65 billion) in efficiency gains.

($1 = 0.9588 euros)

(Reporting by Christoph Steitz, Andrey Sychev, editing by Kirsti Knolle)

Key Takeaways

Volkswagen will cut over 35,000 jobs in Germany by 2030.
The job cuts are part of a union agreement.
The move aims to achieve €15 billion in efficiency gains.
The job cuts will be done in a socially responsible manner.
The announcement was made by Volkswagen on Friday.

Frequently Asked Questions

What is the main topic?

The main topic is Volkswagen's plan to cut over 35,000 jobs in Germany by 2030 as part of a union agreement to achieve efficiency gains.

Why is Volkswagen cutting jobs?

Volkswagen is cutting jobs to achieve more than €15 billion in efficiency gains by 2030.

How will the job cuts be implemented?

The job cuts will be implemented in a socially responsible manner as per the agreement with unions.

Suspect in White House press dinner shooting wrote anti-Christian manifesto, Trump says

Trump says he speaks with Putin and Zelenskiy -Fox News

Trump tells Fox News Iran can call US if it wants to negotiate

Australia's Wong to visit Japan, China, South Korea to discuss energy security

Hungary's Magyar to meet EU's von der Leyen for talks on EU funds this week

Switzerland angers Italy by claiming costs of treating Crans-Montana fire victims

More from Finance

Explore more articles in the Finance category

Russian defence minister visits North Korea

Fertiliser plant in Russia's Vologda region damaged in Ukrainian drone attack, governor says

Close Brothers will not take legal action against Britain's car finance redress scheme, Sky News reports

Germany's far-right AfD rises to record 28%, INSA poll shows

German government suspects Russia of Signal attack targeting politicians, sources say

Romania finds parts of second drone after overnight Russian attack on Ukraine

China condemns EU's inclusion of Chinese entities in sanctions package against Russia

Russian parliament speaker in North Korea to mark Pyongyang's troop deployment in Ukraine war

Macron reaffirms efforts to reopen Strait of Hormuz, as TotalEnergies warns of energy shortages

France's Macron says EU mutual assistance clause is unambiguous

US to let Venezuela pay Maduro's lawyer in drug trafficking case

Italy votes down equal parental leave while fathers redefine their role online

View All Finance Posts