Volkswagen announces the elimination of 50,000 jobs in Germany by 2030, with the possibility of increasing the number of layoffs by another 50,000 positions.

Volkswagen, based in Wolfsburg, has announced its intention to eliminate 50,000 jobs in Germany by the end of 2030 and to reduce annual production by 500,000 vehicles. According to the publication Manager Magazin, cited by the Financial Times, the new restructuring plan could add another 50,000 positions to the layoff list. These measures were decided after the sale of the marine engine division Everllence to the American fund Bain, a transaction that will bring Volkswagen approximately 7.4 billion euros. CEO Oliver Blume also proposes simplifying the group's structure and focusing on the core business in the automotive industry, while also considering the sale of other assets to obtain liquidity. In the context of increased competition from Chinese car manufacturers, Volkswagen has declined to comment on the information regarding layoffs, with details of the plan to be presented to the Supervisory Board on July 9.