Volkswagen CEO: Union's cost-cutting suggestions are insufficient

HongKong Economic Journal
2024.12.04 13:33

Volkswagen CEO Oliver Blume stated that the cost-cutting proposals put forward by the union are insufficient to address the company's competitiveness issues. Workers are striking nationwide, putting pressure on management. Management has rejected the union's cost-saving plan, with the union estimating that around 100,000 workers are participating in the strike. Labor leader Cavanagh pointed out that workers need to make compromises to reach an agreement before Christmas. Since September, Volkswagen has faced pressure for layoffs and factory closures due to sluggish demand for electric vehicles and rising operating costs

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