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CEO says VW cost cutting necessary
VW Boss: 'Decades of Structural Problems' Led to Crisis
Volkswagen CEO Oliver Blume says costs in Germany must be "massively reduced." VW Group profits fell 63.7% in Q3 2024 when sales decreased by 8.3%. Pay cuts are planned to avoid closing factories. To say Volkswagen is going through a rough patch would be an understatement.
VW cost cutting necessary after 'decades of structural problems', CEO tells paper
"The weak market demand in Europe and significantly lower earnings from China reveal decades of structural problems at
VW
," Blume told Sunday paper Bild ... plans to shut at least three factories in
Germany
, lay off tens of thousands of staff and shrink ...
VW needs to cut costs after ‘decades of structural problems,’ CEO Oliver Blume says
Volkswagen VW needs to cut costs after ‘decades of structural problems,’ CEO Oliver Blume says. Share. Expand (BLOOMBERG/Bloomberg) November 03, 2024 06:08 PM
VW boss Blume says company's cost-cutting goals are set
VW Group CEO Oliver Blume sees no alternative to tough cost-cutting measures at Volkswagen, according to an newspaper interview published on Sunday. "The goal for cost and capacity adjustments has been set,
6d
VW labour chief sounds alarm on mass layoffs and three German plant closures
Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining ...
Daily Wrap on MSN
22h
VW crisis threatens supply chain and rural Germany's future
Deutsche Welle writes that when Europe's largest car manufacturer weakens, it can pose a problem for many suppliers and, ...
The Economist
4d
Volkswagen’s woes illustrate Germany’s creeping deindustrialisation
T he spectre of deindustrialisation has long haunted Germany. Russia’s full-scale invasion of Ukraine in 2022 caused energy ...
Politico Europe
5d
‘Brutal’ results for VW turn political in Germany
Germany’s top carmaker faces a financial bloodbath — and that means trouble for the government. Volkswagen Group posted grim ...
DPA International on MSN
7d
VW plans major cutbacks in Germany: 'We cannot continue as before'
Car giant Volkswagen intends to close at least three plants in Germany and cut tens of thousands of jobs, the leader of the ...
4d
on MSN
How the VW crisis is a failure of Germany's car policy
Volkswagen, Europe's biggest carmaker, is in the midst of a severe sales and cost crisis that it says requires plant closures and layoffs. Talks to rescue VW have started, but could Germany's car ...
5d
on MSN
Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race
Volkswagen is mulling the closure of factories in Germany for the first time to cut costs, while rivals BMW and Mercedes-Benz ...
7d
Labour leaders vow to fight VW factory closure plans in Germany
Volkswagen intends to close at least three plants in Germany and cut tens of thousands of jobs, the leader of the firm's ...
Transport Topics
7d
VW Plans to Close Three German Factories
Volkswagen AG plans to close at least three factories in Germany as Europe’s biggest automaker tries to slash expenses to ...
The Manhattan Mercury
7d
Crisis-hit VW mulls closing at least three German plants
Ailing auto giant Volkswagen plans to close at least three factories in Germany and slash tens of thousands of jobs as part ...
4d
VW demands 10% wage cuts to save jobs as profits plunge
Volkswagen on Wednesday reported a 42% drop in third-quarter profit to its lowest level in three years. "This highlights the ...
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