Volkswagen goes head-to-head with workforce over proposed company cuts

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BERLIN : Volkswagen management will face a tense and fearful workforce at a meeting in its headquarters on Wednesday as it proposes painful cuts, including factory closures in Germany, to hit an ambitious profit target at its namesake brand.

Whatever the cause, the company must make quick decisions about where to cut costs, investors and analysts said - a challenging task for a firm of its size and complexity.

The automaker is targeting a 6.5 per cent profit margin at the brand by 2026, up from 2.3 per cent in the first six months of this year.

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Category: EconomyBusiness

Markets: SingaporeGermany

Topics: Labour Council Meeting Works Management Workers Plant Germany Brand Volkswagen Including

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 12:48:36 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 483 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22363344

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