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CEO says VW cost cutting necessary
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 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 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,
3h
Volkswagen’s woes illustrate Germany’s creeping deindustrialisation
The spectre of deindustrialisation has long haunted Germany. Russia’s full-scale invasion of Ukraine in 2022 caused energy ...
7d
VW may close plants in Germany for the first time in its history
Volkswagen, the largest employer in Germany, is facing increased competition from China and weakening demand.
6d
on MSN
VW crisis: German carmaker needs to scrap three plants and thousands of jobs
VW is in dire straits having to cut costs at every corner amid dwindling sales. VW management has been negotiating for weeks ...
7d
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 ...
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 ...
5d
Germany swerves recession but gloom lingers as VW speculation mounts
Fears had been mounting that Germany, Europe's biggest economy, would contract for a second consecutive quarter.
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 ...
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 ...
Daily Wrap on MSN
1d
VW crisis sparks rural turmoil amidst closure fears in Germany
Deutsche Welle writes that when Europe's largest car manufacturer weakens, it can become a problem for many suppliers and, ...
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