Volkswagen Warns Some German Plants May Struggle Financially Through 2030s
Volkswagen is reviewing the long-term viability of several German plants as it cuts costs and copes with excess capacity in Europe. CEO Oliver Blume told employees some sites may struggle to stay economically sustainable through the 2030s, meeting staff at multiple locations while restructuring plans are discussed. No plant closures have been announced; Emden, Hannover, Zwickau and Neckarsulm are flagged.
Coverage (8)
- Volkswagen’s CEO and union leaders clash over deeper cost cuts (cbtnews.com)
- Volkswagen CEO urges workers to step up cost-cutting amid pressure on German plants (americanbazaaronline.com)
- Volkswagen CEO, labor leaders dig in ahead of key board meeting (detroitnews.com)
- VW workers boo boss as he urges them to ‘pull together’ amid job cuts (theguardian.com)
- Volkswagen CEO faces battle with rival stakeholders, angry workers in push for cuts (reuters.com)
- German state leader urges joint action to avert Volkswagen plant closures (reuters.com)
- Volkswagen CEO calls for deeper cuts as restructuring nears (just-auto.com)
- Volkswagen flags profitability risks at four German plants amid restructuring (storyboard18.com)