Oliver Blume

“Last year, VW generated nearly €1 billion ($1.1 billion) worth of operating profit from China. But for the year ahead, Blume is forecasting earnings could fall as low as €200 million ($230 million) d…”

“CEO Oliver Blume, at a board meeting earlier this month, proposed doubling job cuts to 100,000 and shutting four Volkswagen plants in Germany.”

“has confirmed it is looking to cut up to 100,000 jobs – twice as many as previously stated.”

“the Group's costs were 20% higher compared to rival businesses,”

“this would mean a theoretical loss of 50,000 jobs worldwide.”

“roughly 50,000 additional job cuts on top of the 50,000 already agreed across the group—effectively confirming, for the first time, that Europe's biggest car maker is looking at reducing up to 100,00…”

“Volkswagen has calculated a cost disadvantage of about 20% versus comparable rivals.”

“The 50,000 cuts already agreed span the group, including Porsche and Audi.”

“As of today, we still cannot confirm competitive use cases for the plants of Emden, Hanover, Zwickau and Neckarsulm in the 2030s.”