Volkswagen AG Unsponsored ADR (VWAGY)
Volkswagen CEO threatens 50,000 more job cuts in memo to staff
Volkswagen could cut around 50,000 additional jobs based on calculations aimed at bringing the carmaker into line with the cost competitiveness of other companies, CEO Oliver Blume told staff in an internal memo seen by Reuters on Monday.
Volkswagen to slash model lineup and shrink capacity — but no word on job cuts
Volkswagen's management plans to drastically reduce its model lineup and further cut capacity. The update followed a high-stakes boardroom showdown with the group's supervisory board.
Volkswagen Q2 deliveries fall 8.6% as demand in China slumps
Volkswagen reported a 8.6% decline in global deliveries in the second quarter on Friday, dragged by a drop in demand in the Chinese market.
Volkswagen's Vast Jobs Factory Is Under Threat Like Never Before
The world's second-largest automaker plans to halve its lineup of cars as part of its second major overhaul in two years.
Volkswagen Seeks to Halve Model Lineup and Shrink Capacity to Cut Costs
It said it will concentrate on the most attractive segments, and adjust production capacity to the current market reality, as it grapples with high costs and intensifying competition in and from China.
Volkswagen stakeholders meet to decide future of creaking auto giant
Volkswagen's proposal to slash tens of thousands more jobs and close factories faces a major test on Thursday as the groups that control Europe's largest carmaker meet to discuss the plans, drawing worker protests at plants across the country.
What are the key issues in Volkswagen's restructuring efforts?
Volkswagen's supervisory board will meet on July 9 to discuss what could become the carmaker's biggest transformation to date, marking a make-or-break moment for Chief Executive Oliver Blume in tackling an escalating crisis.
Focus: Volkswagen CEO faces acid test from unions over swingeing job cut plans
Volkswagen CEO Oliver Blume faces perhaps the biggest test of his leadership this week: persuading the German carmaker's supervisory board to accept painful job cuts and factory closures as it struggles to fend off Chinese rivals.
Volkswagen braces for boardroom showdown over historic cost-cutting plan
Volkswagen is bracing for a high-stakes boardroom showdown on July 9. It follows reports that the German auto giant is weighing up closing four factories and implementing as many as 100,000 job cuts.
Why Is Volkswagen Considering 100K Job Cuts and Plant Closures?
VWAGY is weighing up to 100,000 job cuts and the closure of four German plants as part of a sweeping restructuring and cost-cutting plan.
Volkswagen's 16-Year Low Masks a Massive Margin Engine
Markets rarely misprice $360 billion global conglomerates. When they do, though, it's wise to pay attention.
Volkswagen's stock is close to hitting a 15-year low
Shares in the German carmaker slumped following reports of a plan to cut up to 100,000 jobs.
