Tuesday, July 14Tuesday, July 14
15 days · 3 summary articles
Volkswagen CEO proposes 50,000 more job cuts amid cost pressure: unions, board oppose plan
Volkswagen rules out factory closures in cost cuts but warns jobs at risk in Germany
Volkswagens CEO pushes job cuts and plant closures despite resistance from Lower Saxony and IG Metall
Volkswagen CEO Oliver Blume has stated that the company aims to avoid closing factories as part of its cost-cutting measures. In an interview with Bild am Sonntag, Blume said, "There are more intelligent solutions than closing plants." This statement comes as the company faces pressure to reduce costs and improve efficiency.
The factories at risk of closure are located in Zwickau, Emden, Neckarsulm, and Hannover, employing around 40,000 people. Blume acknowledged that these plants are under threat but emphasized that the company is looking for alternative solutions.
Blume highlighted that Volkswagen has already made progress in reducing costs, with factory costs in Germany improving by an average of 20% last year. However, he stressed that the company needs to continue reducing costs across all areas. "Our products are very popular, but we earn too little money with them," Blume said.
The global situation is also a concern for Blume, who cited geopolitical tensions, trade barriers, regulations, market upheavals, and intense competition as challenges. Despite these issues, Blume expressed optimism about Volkswagen's new electric fleet, noting that the company has sold over 50,000 cars from its new ID. Polo family in the first four weeks.
Volkswagen has announced plans to reduce its production capacity by one million vehicles by 2030 and cut its model range in half by 2035 to become more cost-effective and efficient. The company is also considering relocating defense companies to its factories or producing models developed in China there.
Job cuts are also on the table, with reports suggesting that up to 120,000 jobs could be cut worldwide. However, Volkswagen has only confirmed cutting 5,000 management positions by 2030. The company has not specified how many of its more than 650,000 jobs worldwide could be affected.
Blume's statements come after a recent supervisory board meeting where a further cost-cutting package was reportedly rejected. The package, which was not detailed in the reports, was opposed by representatives of employees and the state of Lower Saxony.
Volkswagen's efforts to streamline its operations and reduce costs come as the company faces increasing competition in the lucrative Chinese market and pressure to improve its financial performance. The company's plans to reduce its model range and production capacity are part of a broader strategy to become more efficient and competitive in the global market.
As Volkswagen navigates these challenges, Blume's focus on finding "more intelligent solutions" than factory closures underscores the company's commitment to preserving jobs while improving its financial performance. However, the road ahead remains uncertain as the company grapples with a complex global landscape and intense competition.
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