Volkswagen (VW) plans to lay off 19,000 employees by the end of the current year, according to Reuters.
The cuts are part of a large-scale cost-reduction plan.
Recently, the company has faced weak demand, electric vehicle sales challenges, and increased competition from Chinese firms.
In 2024, VW announced plans to close plants and cut tens of thousands of jobs. The target is to reduce its workforce by 28,000 by 2030.
