Volkswagen considering first ever German factory closures to cut costs | DW News
German car giant Volkswagen has terminated a job security program and says it cannot rule out closures and redundancies amid a tough economic environment.
The company is reportedly looking to cut €4 billion ($4.25 billion) more than originally planned in a sweeping savings plan.
Workers’ representatives have promised to fight the plans.
The board said that the current strategy of offering reduced contracts and severance packages to employees nearing retirement was no longer sufficient to meet the company’s targets, and announced it was terminating a job security program which has been in place since 1994.
“The European automobile industry currently finds itself in a challenging and serious position,” said Volkswagen chief executive Oliver Blume.
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26 comments
Not Revolution Devolution
Thankfulness to the internet colleague for the expression poor management.
Poor leadership.
My source for this comment, Aristóteles, Obra Jurídica, Resjuridica 1990, pps 163 to the end. Compilator Paulo Ferreira da Cunha, Translator Fernando Couto. Gratidão, Agradecimento, Reconhecimento, Felicidade lenta. Gratefulness.
Why people buying evs in germany ? I think their electric prices are already very high. It is something like 0.4 euro per kw. 100 km =17 kw= 6.8 euro, for ice car 100 km = 5lt = 8 euro. Too less profit for trouble. Am i miss something ?
Soon VW, BMW and Mercedes will be no more.
Or they will subsuduaries of BYD, Geely, GAC, XPENG, Li Auto, Changan, SAIC, etc.
Finally closing das auto! Bring on more engineers to German society. Germany is sinking with bureaucracy, high labour costs and cheap quality of products because of greed
Money spent on mergers and acquisitions should have been spent on modernization and innovation. Same thing in America, where companies like Apple make incremental improvements to existing products, counting their parked money, while Chinese phone companies build automated EV factories.
Money to the NATO
😂
Keep sanctioning other countries, they say. It will help their economy grow faster.
Why keep imported Chinese car's smart move German
tax and tarifs on china!
Why is everyone blaming china when energy?
This is such bad sign to the world , it’s not just EV causing it.., it’s response to the transition that is causing it.., if energy is not spent by companies to evolve as it reads the market.., this is the result we will see..,
Seems like EU sanctioning are working
Germany has leading machinary technologies, bus is slow at digital age and not prepared well for ev car. This is not only occurred phenomenon in Germany but also lots of European countries. These countries highly rely on American Social medias and Phones from US, China and Korea. This is reality of Europe.
Even Bidenomics is affecting Germany. Wow!!!
Germany decided to stay a slave to the us instead of forging its own destiny. It won’t last long
0:15 I'm a VW fan but maybe the energy cost is too expensive… Russia is winning against the west, but Russians loved European cars but because of the sanctions? they dont have any choice but to get the Chinese brand. And German cars are loosing the big market of Russia.
Only Austrian painter can fix this.
Come to ask Uncle Sam to help because he going around the world the sanctions tariff makes u bankruptcy etc.
Can't wait for bavarian auto works to get it next.
1,500 euros to replace a headlamp????????
Too big, too slow, too much entrenchment in German unions and government.
Then China…
Executives must have just sat on this. Irresponsible.
China is waiting for everyone in a race to the bottom.
Good luck everybody.
so shocking news😢
Why Germany let the US destroyed nordsteam and end their cheap energy consumption?