restructuring

Volkswagen shares slide as analysts downgrade after profit warning

Volkswagen confirmed late on Friday that it now expects an operating margin of no more than 1% for 2026, a dramatic reduction from its previous guidance of 4% to 5.5%, after flagging approximately €10 billion in exceptional charges dominated by…

Volkswagen dropped from Euro Stoxx 50 as profit crisis deepens

Volkswagen on Friday issued a sweeping profit warning, cutting its 2026 operating margin forecast to at most 1% from a previous range of 4% to 5.5%, after flagging roughly €10 billion ($11.5 billion) in one-off charges dominated by a €6…

Oracle adds $700M to layoff plan as AI spending strains finances

Oracle disclosed Friday that it has increased the scope of its planned workforce reductions, adding $700 million to its "2026 Restructuring Plan" and bringing the total estimated costs to approximately $2.8 billion, according to a regulatory filing reported by Bloomberg.…

Volkswagen’s restructuring to cost €16 billion, source says

Volkswagen estimates the total cost of job cuts and potential plant closures under its sweeping restructuring plan at around €16 billion ($18.6 billion), according to a person familiar with the matter, as first reported by German magazine Der Spiegel and…

VW board approves plan to cut 100,000 jobs, halve model lineup

Volkswagen's supervisory board on Thursday unanimously approved the most sweeping restructuring in the automaker's history, a plan that will eliminate approximately 100,000 jobs, halt auto production at four German factories, and kill roughly half its global model lineup by 2035.

PayPal begins cutting 20% of global workforce

PayPal has begun laying off dozens of employees at its Israel development center as part of a sweeping global restructuring that will eliminate roughly 4,760 jobs — about 20% of the company's workforce — over two to three years.

VW CEO calls situation ‘more than critical’ as 50,000 jobs face the ax

Volkswagen CEO Oliver Blume warned on Friday that Europe's largest automaker faces a "more than critical" situation, signaling that sweeping job cuts and structural overhauls are needed as the company confronts intensifying competition and declining profitability.

Porsche SE warns VW is at ‘historic crossroads,’ demands faster cost cuts

Volkswagen's majority owner issued its most forceful public call yet for the automaker to accelerate sweeping cost reductions, warning that Europe's largest carmaker risks permanently falling behind rivals if it delays action.

Venezuela creditor group adds 15 funds ahead of record debt restructuring

A group of investors holding defaulted Venezuelan bonds is growing its ranks as the country edges toward what could become the largest sovereign debt restructuring on record, with total claims approaching $240 billion.

Jetta, Taycan among 10 models VW may axe, Bild reports

Volkswagen Group announced a sweeping "Future Plan" last week to cut its global model portfolio by up to 50 percent by 2030, and on Monday, German newspaper Bild reported a preliminary list of 10 models that could face elimination —…

VW CEO warns of 50,000 more job cuts worldwide

Volkswagen CEO Oliver Blume told employees in an internal memo that up to 50,000 additional jobs may need to be eliminated worldwide to bring the automaker's cost structure in line with competitors, Reuters reported on Monday. The figure represents a…

VW board blocks plan to cut 100,000 jobs, close plants

Volkswagen's supervisory board voted against CEO Oliver Blume's proposal to cut up to 100,000 jobs and close four German factories, with labor representatives defeating the plan 12 to seven at a meeting on Thursday in Wolfsburg, according to Reuters.

Volkswagen to cut model lineup by up to half in historic overhaul

Volkswagen announced on Thursday that it will slash its global vehicle lineup by as much as 50%, as the automaker pursues what analysts describe as the most far-reaching restructuring in its nearly nine-decade history. The decision came after a high-stakes…

VW CEO Blume faces pivotal board vote on 100,000 job cuts

Volkswagen CEO Oliver Blume is heading into what analysts describe as the biggest test of his leadership: a supervisory board meeting on Thursday, July 9, where he will seek approval for a restructuring plan that could eliminate up to 100,000…

Venezuelan bond rally fades as earthquakes darken debt outlook

Venezuelan sovereign bonds and debt issued by state oil company PDVSA are sliding as investors reckon with the financial fallout of the devastating June 24 earthquakes, which have compounded what was already shaping up to be the largest sovereign debt…

Volkswagen stock nears 15-year low on reports of 100,000 job cuts

Shares in Volkswagen AG fell nearly 2% on Monday to approach their lowest level since October 2010, after reports emerged that the automaker is preparing to eliminate up to 100,000 jobs and close four German factories in one of the…

BAT to cut 5,500 jobs in AI-driven restructuring

British American Tobacco announced on Monday that it will eliminate 5,500 jobs and transfer an additional 3,500 roles to third-party firms including Accenture, affecting roughly 9,000 employees — about 20% of its non-U.S. workforce — as it accelerates an AI-powered…

VW CEO plans to cut 100,000 jobs worldwide, report says

Volkswagen CEO Oliver Blume is planning to eliminate up to 100,000 jobs worldwide over the coming years, according to a report by Manager Magazin published on Wednesday, marking a dramatic escalation of the German automaker's already sweeping restructuring campaign.

VW CEO lays out sweeping restructuring at annual meeting

Volkswagen CEO Oliver Blume used the automaker's annual general meeting on Thursday to lay out a sweeping plan for the future, warning shareholders that rising geopolitical tensions, fierce competition, and trade barriers demand faster and deeper changes at Europe's largest…