"We have demonstrated that our substance is robust and that our future-oriented programs are working. Supported by strong financial momentum at year-end, we further strengthened our company. After three intensive years of realignment within the Volkswagen Group, we are seeing tangible progress."
"At the same time, we are operating in a fundamentally different environment. We are therefore determined to continue to pursue the course we have set."
Volkswagen Group announced a major cost-cutting strategy involving 50,000 job cuts by the end of the decade across its entire organization, including Audi and Cariad software unit. The company reported 2025 revenue of €321.9 billion, largely flat year-over-year, but operating profit dropped significantly from €19.1 billion to €8.9 billion. The decline stems from US import tariffs, weak electric vehicle demand at Porsche AG, and challenging market conditions. This expansion of job reductions follows a 2024 agreement to cut over 35,000 positions. Volkswagen aims to restore operating profit margins to 8-10% by 2030 through these restructuring efforts.
Read at London Business News | Londonlovesbusiness.com
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