Volkswagen is facing intense competition and declining demand, leading to the company's first-ever factory closures in Germany, potentially affecting tens of thousands of jobs.
Daniela Cavallo emphasized that management's intentions are serious, and this is not merely a negotiation tactic as they look to cut costs in a tough market.
CEO Thomas Schaefer detailed the financial struggles, noting that production costs in Germany are unexpectedly high, highlighting a critical need for restructuring.
With over 670,000 employees worldwide, Volkswagen is grappling with internal inefficiencies and a market that demands more strategic cost management to remain competitive.
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