"The situation is more than critical": The VW Group is facing crucial weeks
Chief Executive Officer Oliver Blume is calling on employees to "join in", who are calculating with management in an internal survey. The dispute over the future of Europe's largest industrial conglomerate is coming to a head.
Volkswagen CEO Oliver Blume has warned that the company is in a critical situation, citing a "mega-crisis" in the global auto industry. He has called on employees to "pull together" as the company considers a major restructuring plan, known as "Zielbild 2030", which aims to cut costs and improve competitiveness. The plan may involve up to 50,000 job cuts and the closure of four German factories, and will be discussed by the supervisory board on September 4.
An internal survey has revealed employee concerns about job losses and the company's strategy, and Blume has acknowledged that more needs to be done to address the company's challenges.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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