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Volkswagen investors back rapid overhaul to improve competitiveness

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Europe News

VW Osnabrück plant: Is the Iron Dome missile deal collapsing?

Vehicle production at VW in Osnabrück is scheduled to end in 2027, meaning around 2,300 jobs depend on a follow-up solution.

Business

Volkswagen lacks backing for overhaul plan with up to 100,000 job cuts

Volkswagen's proposed restructuring plan failed to win backing from the labour bloc on the company's supervisory board on Thursday, leaving uncertainty over additional job cuts and factory closures. The carmaker nevertheless laid out plans to reduce production capacity and simplify its model range.

Business

Volkswagen risks 'major conflict' with staff over cost-cutting drive

Chief Executive Oliver Blume is considering cutting 100,000 jobs worldwide, around 16% of Volkswagen's global workforce, and closing three Volkswagen plants in Germany as well as one Audi factory,

Business

Volkswagen weighs 100,000 job cuts in battle for survival

German auto giant Volkswagen's management meets Thursday to discuss plans for what could be the biggest ever restructuring in the global auto industry, with unions set to protest any mass job cuts.

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Europe News

Porsche plans Cayenne return to Leipzig as staff face pay cuts

The Cayenne is set to return to Germany. But the planned move of production to Leipzig apparently comes at a high price, with staff expected to give up part of their pay.

Business

Crisis deepens: VW reportedly planning to cut up to 100,000 jobs

Volkswagen is reportedly preparing what could become the most radical overhaul in its history. Up to 100,000 jobs could be cut worldwide, while four German plants could close.

Business

Volkswagen profit drops as carmaker signals further cost cuts

Volkswagen warned its future is at risk as profits fell sharply and it signalled deeper cost cuts. The carmaker is battling weak demand in China, rising competition, tariffs and pressure to simplify its complex structure.

Business

Cars to defence: Will Volkswagen make parts for Israel's Iron Dome?

Volkswagen is reportedly in talks with Israeli defence company Rafael Advanced Defense Systems about potentially converting VW's Osnabrück plant, currently threatened with closure, to producing defence-adjacent parts.

Business

Volkswagen axes 50,000 jobs after profits collapse by nearly half

Volkswagen Group profits slumped by almost half in 2025. Trade conflicts, difficulties in China and the change in strategy at Porsche are putting Europe's largest car manufacturer under pressure.

Business

Volkswagen's €3bn gamble: Can it win back market share in China?

VW is developing cars tailored to Chinese drivers — vehicles that will likely never be seen on European roads, though they may make their way to markets in the Middle East and Southeast Asia.

Business

Saxony eyes €500mn Volkswagen stake to save jobs and win influence

With Volkswagen planning to cut tens of thousands of jobs in Germany, Saxony’s Greens are calling for the state to buy into the carmaker and secure a seat on VW’s supervisory board.

Markets

Porsche shares slide after EV launch delay and altered profit outlook

The German carmaker saw its shares decline over 7% by Monday afternoon. Shares in Volkswagen — the firm’s biggest shareholder — also fell.

Business

Car sales in Europe: Which brands are rising and falling?

Europe’s carmakers are grappling with tariffs and fierce competition amid the shift to EVs. As European Commission President Ursula von der Leyen prepares to meet industry leaders Friday to discuss the future of the auto sector, new sales and market share data reveal how the sector is reshaping.

Business

Sweden’s Scania to export half of China-produced trucks at new site

Scania’s new Chinese production facility will open in October in a bid to reduce costs in the Asian market and stay ‘close to rivals’.

Markets

Is August the worst month to invest in European stocks?

August has historically been the weakest month for European equities, with regional indices consistently posting negative returns during this period.

Business

Hammered by US tariffs, Volkswagen’s profit drops sharply

Germany’s Volkswagen cut its financial guidance for 2025 after US tariffs took a €1.3 billion toll on its income in the first six months. But European sales and EVs appear to support future growth.