Volkswagen plans to intensify restructuring after cutting its profit outlook.

Volkswagen brand chief Thomas Schaefer said the automaker would significantly step up its performance programme after measures agreed in 2024 proved insufficient. The group plans to cut a further 50,000 jobs under a restructuring negotiated with stakeholders.

Volkswagen had reduced its 2026 profit-margin forecast to no more than 1%, citing a weak Chinese market and higher retirement provisions. German auto workers protested job cuts and possible relocations, while union leaders called for stronger industrial protections and a better response to electric vehicles, software and battery competition.