Situation at VW according to the CEO "more than critical", crucial week ahead
Next week, some extraordinary works council meetings are scheduled to take place. According to VW Chief Blume, the largest transformation plan in the company's history has been put in place.
Vorstandschef Oliver Blume of Volkswagen has warned that the company is facing "more than critical" circumstances, signaling a major crisis within the global auto industry. Blume expressed this during an interview with "Bild am Sonntag," stating, "The global automobile industry is in a mega-crisis, and Volkswagen is right in the middle of it." In the coming years, it will be determined whether the company remains competitive or falls behind.
Blume emphasized that the company needs a "2030 Vision" - a comprehensive worldwide program for products, technologies, competitiveness, structures, and growth. The plan includes significantly reducing costs and closing four German plants, with up to 50,000 positions potentially being eliminated. The Aufsichtsrat will examine this proposal on September 4th.
The situation has become so tense that the company's own intranet reported discontent among employees, who expressed fear of job losses and criticism of the company's strategy for customer trust, future products, and internal processes. Despite the challenges, Blume is optimistic about reviving the company's fortunes, hoping for a change in sentiment as all parties must work together.
Written by urgent.news from NZZ Wirtschaft's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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