Volkswagen Plans Cuts, Faces Workforce Backlash
The meeting is expected to be difficult for Volkswagen management.
Representational image of Volkswagen car. (Image Courtesy: freepik).
Volkswagen management will face a tense meeting on Wednesday at its Wolfsburg headquarters, as it proposes significant cuts, including factory closures in Germany, to meet its profit targets.
Chief Financial Officer Arno Antlitz and VW brand chief Thomas Schaefer will explain the plans, while works council head Daniela Cavallo has vowed "fierce resistance" and warned of high emotions.
The meeting is expected to be difficult for management.
Volkswagen is considering closing factories and ending a long-standing job guarantee at six plants as part of a 10 billion euro ($11.04 billion) cost-cutting drive.
The goal is to boost the brand's profit margin to 6.5% by 2026, up from 2.3% in the first half of this year.
