Volkswagen CEO: Our situation is tense and challenging

▤ Summary

Volkswagen says its business conditions remain tense and difficult, and management expects the automotive environment to worsen again in 2026. The company plans further restructuring, including voluntary departures for 28,000 employees and a total target of about 50,000 job cuts by 2030. Volkswagen also intends to reduce capacity further across European plants, citing competition from China and excess factory footprint. Investors are uneasy after the sudden resignation of supervisory board member Susanne Wiegand, which adds governance concerns to the operational pressure. The company says it needs lower material, overhead, and plant costs to stay competitive.

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