Volkswagen has warned employees that up to 140,000 jobs could be at risk in the coming years, according to an internal memo from CEO Oliver Blume.
The company had already committed to cutting 50,000 positions, but Blume now says another 50,000 roles may be eliminated as part of further cost reductions.
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Planned factory closures after 2030 could put an additional 40,000 jobs in jeopardy, bringing the potential total to 140,000.
Factory Closures and Model Cuts
Blume noted that plants in Emden, Hanover, Zwickau, and Neckarsulm may not have competitive use cases in the 2030s.
Several models are also under threat, including the VW Polo, Skoda Fabia and Kamiq, Audi Q5 Sportback, and Porsche models such as the Taycan, Panamera, and Cayenne Coupe.
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Reuters reports that Volkswagen could gradually halve its model lineup to save costs.
Blume acknowledged that not all details have been finalized and that further discussions are needed.
Meetings with staff are set to begin next month, starting at the Wolfsburg headquarters on August 25, followed by sessions at the Emden and Zwickau plants.
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The company faces a 20 percent cost disadvantage compared to its competitors, driving the urgency for cuts.
