Sunday, November 3, 2024

VW cost cutting necessary after 'decades of structural problems', CEO tells paper

Volkswagen plans to cut costs to address long-standing structural issues. CEO Oliver Blume said weak market demand in Europe and lower earnings from China highlight these problems. Volkswagen may close three factories in Germany, lay off thousands of employees, and reduce operations in remaining plants. It has set aside approximately 900 million euros to implement these changes.

from Auto-Industry-Economic Times https://ift.tt/JjfzwIW

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