Four Volkswagen plants under question: The cost-cutting measures in Wolfsburg:
Volkswagen CEO Oliver Blume surprises with a new tough stance. He announces the ...
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Key FactsVolkswagen Targets Major Cost Cuts by 2028
Feb 16, 2026 · Reading time: ~45 sec.
Summary created with AI assistance · Source: welt.de
Summary created with AI assistance · Source: welt.de
- Volkswagen plans to reduce company-wide costs by 20% by the end of 2028 to address ongoing profitability concerns.
- CEO Oliver Blume stated that the savings target covers all brands and cost categories, totaling around €60 billion.
- The works council has firmly ruled out any plant closures or layoffs, emphasizing socially responsible measures for employees.
- CFO Arno Antlitz highlighted the need for continued restructuring since the current 3% profit margin is insufficient for strong investment.
There will be no plant closures with us.— Works council chairwoman Daniela Cavallo emphasizes the agreement between the union and the company and the social compatibility of the measures.
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