Volkswagen is preparing a major restructuring that could cut up to 100,000 jobs over the next few years, according to reports.
The German carmaker is also said to be considering plant closures in Hanover, Zwickau, Emden and Audi’s Neckarsulm site. The move comes as the company faces weak demand in Europe, tougher competition from Chinese electric vehicle makers and higher costs.
Chief executive Oliver Blume is reportedly pushing a wider overhaul to reduce spending and improve efficiency. Labour unions have strongly opposed the plan, warning that workers should not pay for the company’s problems. Board decision is due next month.