Volkswagen CEO Plans 100,000 Job Cuts in Major Overhaul
It appears Volkswagen’s CEO is setting the stage for a massive workforce reduction, with reports from Manager Magazin indicating a target of cutting around 100,000 jobs as part of a significant company overhaul. This is a stark figure, especially when considering Volkswagen employs approximately 650,000 people globally. The sheer scale of such a layoff suggests a deep and perhaps fundamental restructuring is underway.
The current state of Volkswagen’s stock performance, where $100 invested five years ago would now be worth only $35, points to a prolonged period of struggle, not a sudden downturn. This consistent decline, even before accounting for inflation, paints a picture of a company in what some might describe as a managed decline, a concerning observation for such a historically dominant player in the automotive industry.… Continue reading
Matt Underwood