Volkswagen Family Shareholders Urge Faster Reform as Group Plans Up to 100,000 Job Cuts

Volkswagen Group's largest investor and controlling family shareholders delivered a clear signal to management on August 7 that the group is facing the most aggressive restructuring in its 89-year history. Europe's largest carmaker has confirmed plans to cut up to 100,000 jobs, double the previously announced figure, as it confronts billions of euros in tariff costs and a profit decline driven by intensifying competition from Chinese car brands.

Porsche SE, Volkswagen's largest single shareholder holding 31.9% of the group's equity and 53.3% of its voting rights, reported adjusted after-tax earnings of 949 million euros for the first half of 2026, down 14.5% from the same period a year earlier.