VW chief warns carmaker's situation 'more than critical'
Volkswagen's CEO has warned the company was in a "more than critical" state ahead of meetings with the car giant's staff where he will defend the company's savings plans.
In an interview posted on the company's intranet, Oliver Blume said Volkswagen and the rest of Germany's car industry are facing "the biggest upheaval in their history" from global headwinds and Chinese competition.
The carmaker is weighing up huge job cuts. In the coming days, Blume will meet with employees at Volkswagen's headquarters in Wolfsburg and sites in Zwickau and Emden to give updates on the company's plans.
In the interview, Blume said that no decision had been taken on plant closures but reiterated the company's position that for plants in "Emden, Hannover, Zwickau and Neckarsulm we cannot currently see any way of them remaining profitable in the 2030s."
