future plan<\/a>” reiterating existing, previously disclosed goals to simplify operations \u2013 targets that did not require the supervisory board’s sign-off. <\/p>\nThe restructuring, as proposed, would gradually alter a product range that covers mass-market marques VW and Skoda, sports car manufacturer Porsche and luxury brand Lamborghini. <\/p>\n
IG Metall, Germany’s biggest industrial union, organised demonstrations by workers at VW Group sites across the country, calling on management to put forward a strategy that protects production. <\/p>\n
The company’s existing labour agreement contains a truce on strike action, but unions have warned they could intensify industrial action should management attempt to revisit job-security commitments. <\/p>\n
According to sources familiar with the discussions, the state of Lower Saxony, where VW’s Wolfsburg headquarters is located, sought to negotiate a compromise during the supervisory board’s talks. <\/p>\n
One source said the state had considered submitting its own proposal but ultimately abandoned the plan, without giving further detail. <\/p>\n
VW’s profit margins have fallen by half over the past five years, driven by weaker performance in China, electrification costs and tariffs. <\/p>\n
Second-quarter vehicle deliveries dropped 8.6% to 2.07 million, the sharpest quarterly decline in four years, bringing first-half global deliveries to 4.12 million \u2013 down 6.3% on the same period last year. <\/p>\n
Gains in South America, Western Europe and Central and Eastern Europe only partly offset a 25.9% fall in China, while North America recorded a 3.1% decline over the half despite second-quarter growth of 7.7%. <\/p>\n
“Volkswagen board rejects restructuring proposal \u2013 report” was originally created and published by Just Auto<\/a>, a GlobalData owned brand. <\/p>\n","protected":false},"excerpt":{"rendered":"Volkswagen’s (VW) supervisory board has voted against a restructuring proposal put forward by management underlining the scale of…\n","protected":false},"author":2,"featured_media":54877,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20947],"tags":[21053,11575,21986,21609,43782,5356,8369],"class_list":["post-54876","post","type-post","status-publish","format-standard","has-post-thumbnail","category-volkswagen","tag-oliver-blume","tag-proposal","tag-restructuring","tag-supervisory-board","tag-unnamed-sources","tag-volkswagen","tag-vw"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/54876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=54876"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/54876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/54877"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=54876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=54876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=54876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}