After the announcement of the Volkswagen-Group’s plan to further tighten austerity measures with job cuts and possible factory closures at the core VW brand, group board member Oliver Blume (56) describes the poor economic situation at Volkswagen as alarming.
At the VW brand, the situation is “so serious that you can’t just let everything continue as before,” Blume told “Bild am Sonntag”. “Fewer vehicles are being bought in Europe. At the same time, new competitors from Asia are entering the market with force. The cake has become smaller and we have more guests at the table,” the CEO continued.
The entire European car industry is in a very challenging situation that has never been seen before. “And the economic environment has become even more difficult, especially for the VW brand.”
The group has established results programs in all brands and companies. At VW, however, the cost reductions are currently not enough. “My colleagues VW boss Thomas Schäfer and Thomas Schmall are therefore working with their teams on further measures,” added Blume.
He didn’t say what those might be. According to Blume, there will be no clear-cutting: “We are committed to the location Germany, because Volkswagen has shaped entire generations. We have employees whose grandfathers worked at Volkswagen. I want her grandchildren to still be able to work here too.”