VW and workers lock horns over layoffs as profits plummet
VW and workers lock horns over layoffs as profits plummet
A trade union is demanding that VW hold discussions over management plans for plant closures and mass layoffs. Europe's biggest car manufacturer has reported a 64% profit slump and is now seeking to cut costs.
Volkswagen and unions are set for talks over management plans for plant closures and mass layoffs. The talks come as Europe's biggest car manufacturer reported a profit slump due to high costs and growing competition.
Car giant Volkswagen and labor leaders were set for talks on Wednesday, as company bosses said they would table proposals to tackle high costs and growing competition.
The discussions come on the same day VW announced a 64% plunge in profits and amid concern about widespread job cuts.
well of theres's more competition... be competitive. make better cars, reduce prices, make the product stand out.
During COVID they learned they can make the same profit by ditching mass market vehicles and concentrating on high margin SUVs and still preserve their profit margin. I guess this is now biting their asses.
I look at the VW range and I see boring cars. I love my Passat B8 and the earlier and later Golf, but the new electric range is dull and plagued with problems.
£50k for an ID3 GTX with a little spec is expensive.
62 K for full spec. Crazy expensive.
Sudden craving for a Reese's!
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Deutsche Welle - News Source Context (Click to view Full Report)
Information for Deutsche Welle:
Wiki: reliable - Deutsche Welle is a German state-owned international broadcaster. It is considered generally reliable. Some editors consider that the quality of DW depends on the language edition.
MBFC: Left-Center - Credibility: High - Factual Reporting: High - Germany
Deutsche Welle - News Source Context (Click to view Full Report)
Information for Deutsche Welle:
Wiki: reliable - Deutsche Welle is a German state-owned international broadcaster. It is considered generally reliable. Some editors consider that the quality of DW depends on the language edition.
MBFC: Left-Center - Credibility: High - Factual Reporting: High - Germany