Vor Betriebsversammlungen: VW-Chef beschwört Zusammenhalt: „Alle müssen mitziehen“

VW's Chief Executive Officer, Oliver Blume, has urged employees to rally together and undergo significant cuts as the company navigates through a global industry crisis. Speaking to Bild am Sonntag, Blume emphasized the importance of the upcoming weeks, stating, "All must move together." He revealed that VW has launched the largest transformation plan in the history of the Volkswagen Group.

A series of extraordinary works council meetings are set to take place next week, following workers' demands for details on the cost-cutting plans prior to the factory holidays. Blume reiterated that the coming years are crucial for the company, stating, "The next years are decisive, who remains in the race and who reaches the top."

He attributed the extensive cost-cutting measures to a fundamental shift in the global automotive market and geopolitical, trade barriers, regulations, weak markets, and fierce competition. Blume appealed to the workforce's spirit of competition, urging them, "For the people, our company, and competitiveness at the German location."

In March, Blume had announced the development of a new "Vision 2030" for VW, which involves a more aggressive cost-cutting approach. Since then, the company has been making frantic moves to cut jobs at four plants and add up to 50,000 additional positions. Blume recently described the situation at VW as "more than critical" in an interview with the VW intranet, highlighting the urgent need for action.

While the return on investment stands at 3.8%, it is far from sufficient to generate sufficient funds for new technologies, products, and locations.