Volkswagen's stock nears a 15-year low on reports of massive planned layoffs

Volkswagen’s stock is nearing a 15-year low as reports suggest massive planned layoffs at the German automaker, following its earlier restructuring plans. Shares fell by almost 2% in Monday trading on the Frankfurt exchange, tracking expectations of possible cuts of up to 100,000 jobs. The report, published by Manager Magazin before the Frankfurt close on Friday, said Volkswagen could eliminate as many as 100,000 positions, potentially close to one in six of its workforce of more than 650,000 employees. The company is also said to plan a spin-off of its core VW brand into separate entities. Volkswagen is headquartered in Wolfsburg and did not immediately respond to comment requests. Citi analysts, led by Harald Hendrikse, said the situation underscores tough conditions for Europe’s auto industry, while AlphaValue called the rumors significant but noted skepticism due to labor-union influence. Competition from Chinese EV makers and U.S. tariffs add pressure.