Audi to Cut 7,500 Jobs in Germany by 2029

Audi, owned by Volkswagen, plans to cut 7,500 jobs, or about 8% of its workforce, by 2029 as part of a cost-reduction strategy to save €1 billion annually. These cuts will focus on administrative and non-production areas, ensuring no compulsory redundancies, and will occur through non-replacement of retiring employees. The move is part of an effort to fund the transition to electric vehicles (EVs) amidst declining demand and increased competition, particularly in China. Audi's EV sales fell 8% in 2024, mirroring broader industry struggles. Despite these challenges, Audi will invest €8 billion in its German manufacturing sites to bolster EV production capabilities, including new electric models. This decision follows broader job reduction efforts within the Volkswagen Group, aiming for efficiency and future-proofing against economic pressures.