Volkswagen could ​cut around 50,000 additional jobs ‌based on calculations aimed at bringing the carmaker into line ​with the cost competitiveness ​of other companies, CEO Oliver Blume ⁠told staff in an ​internal memo seen by Reuters ​on Monday.

After already agreeing to 50,000 job cuts across the group, including ​its Porsche, opens new tab and Audi ​subsidiaries, the company must work on ‌reducing costs further, having calculated a cost disadvantage versus comparable companies of 20%, Blume said.

This ​means a “theoretical ​deduction” ⁠of another 50,000 jobs worldwide, according to the ​memo.

“We are currently assessing ​across ⁠all brands, companies and regions how many adjustments are ⁠actually ​necessary and feasible,” ​Blume said in the document.

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