Volkswagen is planning to cut up to 100,000 jobs globally. The news has been circulating on German television for months; it was expected and not a big surprise. BBC
It’s not just VW; other German brands face a similar threat. There’s only one reason for this: the incredible dominance of Chinese cars in the global market, especially electric vehicles, has taken over. They are both high-quality and cheaper. Even though the EU has imposed quotas, they can’t compete with these Chinese products. EU countries are forcing their societies because nobody wants to drive an expensive car.
German brands lost because they preferred complaining to competing with Chinese cars. They also failed to realize how serious the situation was. They were too late. Today, laying off 100,000 people worldwide means a decline in VW’s brand value.
But he who falls on his own doesn’t cry.