Volkswagen CFO says ‘too many layers, too many entities’ as carmaker doubles job-cut target

Volkswagen's second-quarter operating profit fell nearly 10% to 3.5 billion euros, missing estimates, as the carmaker scrapped its 2026 revenue growth forecast. CFO Arno Antlitz called the roughly 4% margin a wake-up call demanding a second restructuring. China sales dropped over 31% in the first half. VW is weighing up to 100,000 job cuts, with four German plants still lacking confirmed use cases beyond 2030.