News
Volkswagen CEO “Brand No Longer Competitive” As They Look To Save 10 Billion Euros
Volkswagen is on the eve of a huge round of savings. This is evident from reporting from not the least party: Reuters. Volkswagen CEO Thomas Schäfer is said to have called the brand ‘no longer competitive’ in its current form.
Thomas Schäfer, CEO of the car brand Volkswagen, reportedly said during a staff meeting that Volkswagen is no longer competitive in its current form. Reuters reports this on the basis of documents that it allegedly saw on Volkswagen’s intranet. Schäfer would point out, among other things, the ‘current corporate structures, processes, and high costs’ as the cause of this.
Volkswagen is currently preparing a plan for major cutbacks. The brand would like to save around 10 billion euros, including by allowing older employees to retire early in consultation. The majority of the savings should not be achieved by cutting the workforce. According to Reuters, more about this should be known later this year.
-
Read More: Volkswagen Records Good Sales In Their Electric Vehicles But Not Giving Up Hope
-
News4 days agoCurrently, China Has 129 Manufacturers Of Electric And Hybrid Vehicles; The Majority Will Fail
-
News4 days agoHyundai Motor Workers Are On A 3-Day Warning Strike
-
News4 days agoBidding For This Stripped 2024 Mercedes-AMG G63 With No Rear End Surpasses $18,000 On Copart
-
News3 days agoLamborghini’s Next Model Will Be A Grand Tourer And Will Not Be Electric
-
News3 days agoFerrari Is “Very Happy” With The Luce’s Reactions
-
Car Facts1 week agoHow Intelligence And Car Selection Are Related: Research Reveals Which Drivers Have The Highest IQs
-
News5 days agoDubai Police Unveils 2nd-Gen AI-Powered ‘Ghiath’ Smart Patrol Based On Denza B8 Hybrid SUV
-
News3 days agoLamborghini Sterrato To Cut Across Multiple Models