VW, long a titan of German industry, has struggled with Chinese competition, US tariffs and patchy demand in Europe
The boss of German carmaker Volkswagen warned workers on Tuesday to brace for more job losses, earning boos and jeers from the crowd, as the crisis-hit company faces a drastic round of cost-cutting.
VW, long a titan of German industry, has struggled with Chinese competition, US tariffs and patchy demand in Europe, including for its electric vehicles.
About 50,000 job cuts have already been agreed across the 10-brand Volkswagen Group – mostly at VW, Audi and Porsche – but the firm has said another 50,000 could be required worldwide to slash costs.
Speaking in front of about 10,000 workers at VW’s Wolfsburg factory, CEO Oliver Blume said for the first time that it was likely “about half of the adjustments required would fall in Germany”.
