More Efficient Production vs. Unions and Politicians. Volkswagen Boss Seeks Support for Layoffs and Factory Closures in Vain
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The package, which Volkswagen management has been considering since July and which is described as the biggest transformation plan in the company's history, includes the closure of some factories and the restructuring of strategic departments...
German car giant Volkswagen is in deep trouble after a dispute between management and labor unions over a restructuring plan that could affect the jobs of around 100,000 employees and major factories as part of a cost-cutting drive. The company has been hit by a slump in the Chinese market and increased competition.
Group CEO Oliver Blume may turn directly to shareholders as he navigates his extensive spending regime.
According to the Volkswagen boss, production costs in the group are 20 to 30 percent higher than at comparable manufacturers. He is therefore convincing trade unions and politicians of the need for drastic changes. So far, to no avail.
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