Volkswagen CEO faces worker protests over massive job cuts

Volkswagen CEO Oliver Blume faced intense protests and criticism from employees at the company’s headquarters in Wolfsburg following announcements regarding massive cost-cutting measures. Workers expressed their frustration through banners and chants, stating that their jobs are more than just figures on a balance sheet.

Blume described the proposed restructuring as the largest transformation program in the company’s history. He indicated that approximately 50,000 job cuts are being considered globally, with roughly half of those adjustments expected to take place in Germany. The company is facing significant pressure due to competition from China, US tariffs, and declining demand for electric vehicles in Europe. Blume warned that continuing current operations in Germany would result in a permanent annual deficit of 1.5 billion euros.

The restructuring plan, which includes potential factory closures, still requires approval from the group’s supervisory board, shareholders, and the state of Lower Saxony. Blume expressed uncertainty regarding the long-term future of three Volkswagen plants and one Audi plant in Germany, though he noted the company is seeking ways to keep them operational through the 2030s.