VW boss confirms up to 50,000 job cuts at risk amid fury from workers

Volkswagen chief executive Oliver Blume has warned that up to 50,000 jobs cuts could be necessary to make Europe's largest carmaker competitive, amid uproar among employees and trade unions, reported dpa.

In an internal interview seen by dpa, Blume offered a figure on the scale of potential redundancies for the first time, after German media reports last week suggested over 100,000 positions could be affected.

Nationwide protests were held by trade union IG Metall on Thursday as management met to discuss the rumoured cost-cutting plans, while the company's works council also outlined its fury over the weekend.

Blume said the figure of 50,000 potential cuts stems from a plan to reduce Volkswagen's administrative and infrastructure costs to keep it competitive, warning that costs are still 20% above the average for its rivals.

"A theoretical calculation, assuming no change in labour costs, would result in around 50,000 job cuts worldwide," he said.

An assessment is currently under way across all brands, subsidiaries and regions to determine which adjustments are necessary and feasible, the chief executive explained.

Staff costs are determined not only by the number of employees but also by labour costs, Blume added. "We must also pull this lever," he said, indicating that the exact scale of the job cuts has not yet been finalized.