Market Chatter: Volkswagen Plans Up to 50,000 More Job Cuts Amid High Overhead Costs

09:35 AM EDT, 07/13/2026 (MT Newswires) -- Volkswagen (VOW.F, VOW3.F) is planning to cut up to 50,000 more jobs as the company's overhead runs one-fifth higher than competitors, Bloomberg News reported Monday, citing its chief executive officer. In an interview published on the German carmaker's intranet, Oliver Blume reportedly said the theoretical additional deduction is implied to close the overhead gap with rivals. The company already targeted eliminating a similar amount of jobs as part of cost cuts launched in 2024. Volkswagen did not immediately respond to a request for a 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.)