Volkswagen's financial situation is not up to standard, plans to cut jobs and postpone profit targets

Volkswagen's financial situation is reportedly still not up to par, with an overall profit margin of about 2%. It was originally planned to achieve a profit margin of 6.5% by the end of 2026, but now the profit target has been postponed for 3 to 4 years. In order to reduce costs, Volkswagen plans to lay off employees, and it is expected that more than 35,000 employees will be laid off by 2030. In addition, Volkswagen is also looking for alternatives, including looking for investors, and plans to reduce the number of production lines at the Wolfsburg plant.