Commentary: Far from being a global corporation - VW is stuck deep in the provincial backwater of Lower Saxony
The compromise on the austerity package is good only at first glance. The fundamental problem that has always blocked Volkswagen remains unsolved.
Volkswagen's supervisory board has finally agreed on a planned restructuring package after days of negotiation, despite initial disagreements. The compromise was reached unanimously, averting a potential scandal. The package's details have not been disclosed, but it is unlikely to intimidate competitors from China and the US. The negotiations had been contentious, with the state of Lower Saxony and employee representatives opposing plans proposed by CEO Oliver Blume, while the Porsche/Piëch family was determined to push them through.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
