(FILES) The power plant at the headquarters of German carmaker Volkswagen (VW) is seen in Wolfsburg, northern Germany on December 09, 2024 prior to a fourth round of negotiations between management and workers' representatives on a new deal for the crisis-hit company. Europe's largest carmaker Volkswagen is considering cutting tens of thousands more jobs worldwide and shuttering up to four plants in Germany, Manager Magazin reported on June 2026. Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles. (Photo by Ronny HARTMANN / AFP via Getty Images)

(FILES) An aerial view shows the illuminated tower storage facility (L) and the power plant of German carmaker Volkswagen (VW) at the company's headquarters in Wolfsburg, central Germany, at dusk on November 21, 2025. Europe's largest carmaker Volkswagen is considering cutting tens of thousands more jobs worldwide and shuttering up to four plants in Germany, Manager Magazin reported on June 2026. Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles. (Photo by Ronny HARTMANN / AFP via Getty Images)

(FILES) The illuminated VW logo is seen on the power plant building at the headquarters of German carmaker Volkswagen (VW) during sunset in Wolfsburg, central Germany, on November 21, 2025. Europe's largest carmaker Volkswagen is considering cutting tens of thousands more jobs worldwide and shuttering up to four plants in Germany, Manager Magazin reported on June 2026. Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles. (Photo by Ronny HARTMANN / AFP via Getty Images)

(FILES) The illuminated VW Logo is pictured in the customer centre at the headquarters of German carmaker Volkswagen (VW) in Wolfsburg, central Germany, on November 21, 2025. Europe's largest carmaker Volkswagen is considering cutting tens of thousands more jobs worldwide and shuttering up to four plants in Germany, Manager Magazin reported on June 2026. Volkswagen is already planning to cut 50,000 jobs across its brands in Germany by 2030 as it is struggling with high costs, US tariffs and fierce Chinese competition in electric vehicles. (Photo by Ronny HARTMANN / AFP via Getty Images)

NAPA, CALIFORNIA - JUNE 25: Chriselle Lim attends The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)

NAPA, CALIFORNIA - JUNE 25: Mona Kattan attends The Business of Beauty Global Forum 2026 at Stanly Ranch on June 25, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)

This aerial photo shows the Qingdao Beihai Shipyard in Qingdao, China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

This aerial photo shows a new vessel leaving the dry dock for sea trials at the Qingdao Beihai Shipyard in Qingdao, China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT