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.

The German carmaker is mulling deep job cuts amid the 'biggest upheaval' in its history

An internal memo sent by the Volkswagen CEO to employees delivers a grim warning amid falling profits and the rise of Chinese automakers.

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…