Volkswagen is planning to cut up to 100,000 jobs globally, according to the BBC, as the carmaker faces a steep fall in profits and tough competition from China.
Key facts
- Volkswagen is planning to cut up to 100,000 jobs globally, according to the BBC.
- The group includes the Porsche and Audi brands.
- The company has faced a steep fall in profits, the BBC reported.
- Volkswagen is contending with tough competition from China, according to the BBC.
Volkswagen is planning to cut up to 100,000 jobs globally, according to the BBC.
The group, which includes the Porsche and Audi brands, has faced a steep fall in profits, the BBC reported.
Alongside its declining profitability, Volkswagen is contending with tough competition from China, according to the BBC.
Further details about the timing, locations and specific brands affected by the job cuts were not provided in the available reporting.
Why it matters
A plan to cut up to 100,000 jobs would represent a significant restructuring at Volkswagen, which the BBC reports is facing falling profits and competition from China. The scale of any reductions and the operations affected are not yet clear from the available reporting.
Frequently asked questions
How many jobs is Volkswagen planning to cut?
According to the BBC, Volkswagen is planning to cut up to 100,000 jobs globally.
Which brands are part of the Volkswagen group?
The BBC reports that the group includes Porsche and Audi.
Why is Volkswagen cutting jobs?
The BBC reports the company has faced a steep fall in profits and tough competition from China.