Berlin: Volkswagen CEO Oliver Blume thanked staff for their efforts to cut costs at a workers' assembly in Emden on Wednesday, one of five German plants threatened with closure, but said more needed to be done."This journey is not over. Because we not only measure ourselves against our own past performance. We measure ourselves against the best locations in Europe," Blume told staff, according to excerpts of his speech shared by the company.Also Read: China's Moonshot in talks with Microsoft, Amazon, Google over K3 revenue sharing, sources say"Labor costs today are more than double those of comparable European locations. And when it comes to factory costs, other plants are still significantly cheaper. This is not a criticism - it is the reality against which we must measure ourselves," Blume said.Also Read: Meta, US states weigh deal over claims it designed Instagram, Facebook to hook young users: Report
Volkswagen CEO Oliver Blume tells staff cost-cutting journey 'is not over'
Volkswagen CEO Oliver Blume addressed staff regarding ongoing cost-cutting measures. He acknowledged their efforts but stated more work remains to be done. Blume highlighted that labor costs are double comparable European locations. Factory expenses also remain significantly higher than other plants. The company continues to strive for greater efficiency and competitiveness.
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