Struggling automaker: VW brand chief announces speed during ongoing savings program
There is no calm at VW. At a works meeting in Wolfsburg, brand chief Schäfer has no good news to share. The signs are pointing to a storm, warns works council chief Cavallo.
Volkswagen is accelerating its cost-cutting program, with brand chief Thomas Schäfer stating that more needs to be done to address the company's challenges. The program, agreed upon in 2024, aims to reduce overcapacity, lower labor and development costs. So far, 16,300 employees have left the company in Germany, with a goal of 35,000 fewer jobs by 2030.
Betriebsratschefin Daniela Cavallo warns that more severe cuts are likely, and questioned whether the company plans to make redundancies, citing concerns about the impact on employees.
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.
