Market Chatter: Volkswagen CEO Flags 50,000 Additional Global Layoffs

06:06 AM EDT, 07/13/2026 (MT Newswires) -- Volkswagen (VOW.F) Chief Executive Officer Oliver Blume said the company made a "theoretical deduction" ⁠to lay off another 50,000 employees globally to offset a 20% cost disadvantage compared with other companies, Reuters reported Monday, citing an internal memo to staff. The German carmaker is evaluating the requirement and feasibility of job cuts across ⁠all brands, companies, and regions after previously agreeing to terminate 50,000 employees at Porsche (P911.F), Audi, and other subsidiaries. Volkswagen did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)