Volkswagen to cut 50,000 jobs
Photo: Sina Schuldt AP/TT

Volkswagen to cut 50,000 jobs in Germany by 2030

Volkswagen (VW), Europe's largest vehicle manufacturer, is tightening its belt considerably. Some 50,000 jobs in Germany will be lost by 2030, the car giant announced alongside its financial statements.

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VW reports an operating profit of 8.9 billion euros for 2025. This compares with 19.1 billion euros in 2024. However, for the core business the profit was 6.8 billion euros, slightly more than expected.

The average forecast among analysts was for an operating profit of 6.6 billion euros for the core business, according to Bloomberg.

Full-year revenue fell 0.8 percent from 2024, to 321.9 billion euros. This compares with an analysts' average forecast of 324.5 billion euros.

In its forecast for 2026, VW expects sales may increase slightly. The forecast range is 0-3 percent growth.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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