Struggling Volkswagen Plans Pay Freeze Through 2030 As Job Cuts Loom: Report
In another episode of the "death of Europe," a new report from Germany brings more troubling news for struggling automaker Volkswagen, suggesting to us that globalists in the bloc have squandered not just their inheritance but their economic future through a failing progressive experiment that has neutered Europe's industrial base.
German daily newspaper Süddeutsche Zeitung (SZ) reports that Volkswagen plans to freeze salaries through the end of the decade as it expands its cost-cutting push after lowering its outlook and doubling its job-reduction target.
"Internal documents reveal that hundreds of thousands of employees are to forgo pay raises. These latest plans represent a further escalation in the conflict between management and employee representatives," SZ wrote in the article.
The proposed freeze is part of a broader restructuring plan the executive board approved, SZ said, citing internal documents. It added that all regions and plants are expected to make an "appropriate" contribution to Volkswagen's "Group Target Picture," a turnaround strategy aimed at rescuing the automaker.
The plans follow Volkswagen's September decision to slash its outlook and double its job-cut target to 100,000 positions.
More context:
Why Europe allowed a flood of Chinese EVs and hybrids to undercut its own automakers is a question for the history books.
Brussels has at least begun to respond, agreeing earlier this month to cap Chinese hybrid imports at 350,000 vehicles a year, with restrictions expected to take effect in December. It's a start.
Tyler Durden Mon, 10/19/2026 - 07:20
Continue reading...
[ H/T ZeroHedge ]
In another episode of the "death of Europe," a new report from Germany brings more troubling news for struggling automaker Volkswagen, suggesting to us that globalists in the bloc have squandered not just their inheritance but their economic future through a failing progressive experiment that has neutered Europe's industrial base.
German daily newspaper Süddeutsche Zeitung (SZ) reports that Volkswagen plans to freeze salaries through the end of the decade as it expands its cost-cutting push after lowering its outlook and doubling its job-reduction target.
"Internal documents reveal that hundreds of thousands of employees are to forgo pay raises. These latest plans represent a further escalation in the conflict between management and employee representatives," SZ wrote in the article.
The proposed freeze is part of a broader restructuring plan the executive board approved, SZ said, citing internal documents. It added that all regions and plants are expected to make an "appropriate" contribution to Volkswagen's "Group Target Picture," a turnaround strategy aimed at rescuing the automaker.
The plans follow Volkswagen's September decision to slash its outlook and double its job-cut target to 100,000 positions.
More context:
- The Future Of Volkswagen?
- VW Supervisory Board Recommends Another 4,100 Job Cuts At Porsche
- Death Of Europe's Industrial Base: VW CEO Set To Announce 50,000 Job Cuts
Why Europe allowed a flood of Chinese EVs and hybrids to undercut its own automakers is a question for the history books.
Brussels has at least begun to respond, agreeing earlier this month to cap Chinese hybrid imports at 350,000 vehicles a year, with restrictions expected to take effect in December. It's a start.
Tyler Durden Mon, 10/19/2026 - 07:20
Continue reading...
[ H/T ZeroHedge ]
