The Volkswagen Group intensifies the restructuring measures, assuming that it “has no time to lose” in view of the current situation. The plan could cost up to 100,000 jobs in the coming years.
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21/09/2026
by
News to Minutes
A through a delicate moment, the Volkswagen Group recently revised its forecasts of results for the year – at a time when there is a restructuring plan on the table that can cost up to 100,000 jobs in the coming years. And the measures will be accelerated.
End of last week, lowered its operational margin forecast to no more than one percent by multiple factors – not only restructuring, but also due to market conditions in China and, above all, an accounting reduction of EUR 6 billion for Porsche.
In a statement, financial director Arno Antlitz made clear: “The strategic plan sets the course. The measures outlined must now be implemented quickly and consistently. Our financial performance shows that we have no time to waste“.
Despite the downward revision of the financial projections, the person responsible ensured that the measures already implemented are having results. But he left a warning: “We've made measurable progress. We are launching innovative products on the market and reducing operational costs and capital investments without compromising product quality. [...]. Our employees are already making an important contribution. But current events show that we cannot allow the situation to change. Market changes are vast and lasting“.
Restructuring speeds up
Meanwhile, brand director Thomas Schäfer said at a staff meeting in Wolfsburg: “I hoped that the measures agreed by 2024 would be enough. Unfortunately, that was not the case. We have absolutely no time to waste and therefore, we will significantly intensify our performance program once again“. The statements are quoted by the Reuters agency.